Park Place CFO To Leave Company January 31

The chief financial officer of Park Place Entertainment Corporation (NYSE:PPE), Scott LaPorta, will leave the company effective January 31, 2002, the company announced today.

LaPorta, who joined Park Place at its inception on December 31, 1998, said he is leaving to pursue a new business opportunity in the San Francisco Bay area. LaPorta has been commuting weekly to Las Vegas from San Francisco since his marriage in June.

“Scott has been a key member of our management team and has done a tremendous job for Park Place. We would like very much to keep him, but we certainly understand his desire to work closer to home,” said Park Place Chief Executive Officer Thomas E. Gallagher. “Scott leaves with our highest regard and friendship here at Park Place. We wish him great success in the future, and maybe a few less frequent flyer miles.”

The company has initiated a search for a successor, Gallagher said.