The two-fold deal brings $50 million for a remaining 24 million shares and about $100 million for 48 million shares. The larger share take-over represents Park Place's 20% equity stake in Jupiters. The transactions are supposed to close in the second quarter.
Park Place owns, manages or has interest in 28 gaming properties representing two million sf of gaming space and more than 28,000 hotel rooms. Park Place operates under well-known brands such as Bally's, Caesars, Flamingo, Grand, Hilton and Conrad. Despite the liquidation of Park Place's financial interest in Jupiters, Park Place will continue to manage Jupiters' Queenland, Australia casinos, branded as Conrad Jupiters Gold Coast and Conrad International Treasury Casino-Brisbane.
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