"The board of directors of Grand (Casinos) proposes to spin off to the holders of its common stock the shares of Lakes, which will be a new public company that will operate...Grand's gaming business located outside the State of Mississippi which will be comprised primarily of the management of 3 Indian owned casinos..."

"Following the Hilton distribution and immediately after the Grand distribution, Park Place will acquire by means of a merger, Grand's Mississippi Business in exchange for the issuance of Park Place common stock to the shareholders of Grand. Upon completion of the merger, Park Place will conduct directly and indirectly through its subsidiaries, the Hilton Gaming Business and the Mississippi Business."

I hope I didn't put anybody to sleep <g>! Chuck Tomarchio