Hi Mike! This is the front page headline in today's Atlantic City Press. "Minutes after gaining approval to buy Caesars World Inc., casino giant Park Place says it has purchased Sands bonds and might bid for the Sand through the bankruptcy process." "The DGE (Division of Gaming Enforcement) had asked the casino commission to discourage Park Place, after the Caesars purchase, from expanding in Atlantic City until planned new casinos open in three to five years".

"The division claimed that at an Oct. 21 hearing that the bigger Park Place would own too much of the Atlantic City casino market and could use its size to "create a competitive imbalance."

"Park Place, already the world's largest casino company, after the merger will own Bally's Park Place and its Wild Wild West extension, Atlantic City Hilton and Caesars Atlantic City. Together, they account for about 30 percent of the city's hotel rooms, gaming assets and revenue.... roughly the same share now held by Trump Hotels & Casino Resorts Inc."

The Legislature in 1995 eliminated the three-casino limit, instead prohibiting anyone from having "undue economic concentration." That was the principal issue for New Jersey regulators in considering the Park Place-Caesars deal. The Casino Control Commission acknowledged Wednesday that the city will indeed be concentrated, with Park Place, Trump, and Harrah's owning eight of the city's 12 casino and hotel assets, and 85 percent of the cash flow.

In a related development.... in yesterdays Atlantic City Press .... again on the front page.... was the headline "SANDS CEO ABRUPTLY CALLS IT QUITS"
John Belisle, working without a contract for a casino about to change ownership, resigned Tuesday as President and CEO of Sands Hotel & Casino. Belisle left "to explore other opporutnities," Sands said in a prepared statement. The casino did not name a successor.