Connection Card II: Park Place Sets New Standard for Customer Rewards; Connection Card to Offer Comps Based on Hotel Purchases, as Well as Gaming.To download high-resolution, print-ready JPEG JPEG in full Joint Photographic Experts Group Standard computer file format for storing graphic images in a compressed form for general use. JPEG images are compressed using a mathematical algorithm. images, click on the thumbnail image above. WARNING: these images are very large (800K+) Click here for caption Photo Editors/Business Editors NOTE TO MEDIA: Multimedia assets available A photo is available at URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. : http://www.businesswire.com/cgi-bin/photo.cgi?pw.042403/bb5 LAS VEGAS--(BUSINESS WIRE)--April 24, 2003 Loyal guests of Park Place Entertainment's (NYSE NYSE See: New York Stock Exchange : PPE PPE (Brit) n abbr (Univ) (= philosophy, politics, and economics) → Studiengang bestehend aus Philosophie, Politologie und Volkswirtschaft PPE n abbr (BRIT ) (SCOL ) Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. resorts will have more reasons to play and stay at Park Place properties when the company launches the second phase of its customer rewards program -- the Park Place Connection Card -- on Monday, May 5. The new phase will allow guests to earn complimentary hotel, restaurant, entertainment and retail privileges, initially at Park Place's five Las Vegas casino resorts. The program currently offers cash-back slot bonuses redeemable at the company's Las Vegas properties. In coming months, Park Place plans to bring Connection Card rewards to its casino resorts in New Jersey, Mississippi, Indiana and Louisiana, pending regulatory approval. Under the new program, the Connection Card will reward customers with a bank of "Connection Comps" that can be used like cash to pay for hotel accommodations, dining, shows and other resort services. Las Vegas guests will earn complimentary rewards based on their hotel folio -- including charges for hotel rooms, meals, special services and retail items -- as well as slot machine play and table game activity. Offering guests complimentary bonuses based on their hotel guest folio is a customer benefit unmatched by Park Place competitors. "Connection Comps" can be spent in any of the five Park Place resorts in Las Vegas. For example, if a guest earns $20 in "Connection Comps" at Bally's Las Vegas
"Our guests responded very enthusiastically to multi-resort cash-back bonuses, when we introduced those last year in Las Vegas," said Park Place President and Chief Executive Officer Wallace R. Barr. "We tripled cross-property casino play in Las Vegas after we introduced the program. "The multi-property complimentary program has an even greater potential to build customer loyalty. That's why we decided to create a comp program that no one else offers -- one that rewards hotel transactions along with gaming activity." Often compared to airline frequent flyer frequent flyer Hospital practice A popular term for a Pt who is regularly admitted to a particular ER or health care facility, for various reasons programs, the Park Place Connection Card offers cash-back bonuses and complimentary services to reward customer loyalty. In previous years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time cash and complimentary rewards were redeemable only at the property where they were earned. In 2002, Park Place expanded its cash-back bonus program so that Las Vegas visitors could receive their cash at any Park Place Las Vegas resort. Phase II of the program expands the complimentary rewards from a single home property to "Connection Comps" that can be spent at any of the five Park Place Las Vegas resorts. "This is all about choice, variety and convenience," said Barr. "Guests who want to use their 'Connection Comps' for a steak dinner in Las Vegas will have the choice of five steak restaurants instead of one; their entertainment options will increase by more than a factor of five," said Barr. "As we introduce the program to our other markets, players quickly will see that a large enterprise like Park Place has more to offer, with more resorts in popular vacation destinations and property clusters that afford a wider choice of attractions." Players will accumulate "Connection Comps" when they insert their Connection Card while playing slot machines or present the card when playing table games in the casino. Hotel guests who are Connection Card members will receive additional "Connection Comps" based on their hotel cash folio (including room, food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. , excluding gratuities). The new comps will be added to guests' comp banks after they check out. Connection Card members can easily verify their balances by inserting their membership cards into any slot machine or by inquiring at the Connection Card Center located in each resort. Membership in the Park Place Connection Card program is free and available to those aged 21 or older with proper photo identification. Guests may enroll when checking into a participating Park Place hotel, on the web at www.parkplace.com, or at the Park Place Connection Card center in each casino, where they will find more information about the program. Some program rules may vary; see complete information at any Park Place Connection Card center. Park Place Entertainment Corporation is one of the world's leading gaming companies. Park Place owns, manages or has an interest in 27 gaming properties operating under the Caesars, Bally's, Flamingo flamingo, common name for a large pink or red wading bird, similar to the related heron, stork, and spoonbill but with a longer neck, webbed feet, and a unique down-bent bill. Flamingos are tropical birds, although large colonies have been observed high in the Andes. , Grand Casinos Grand Casinos NYSE: GND was a casino operator that started out managing several casinos in Minnesota in 1990. The company ceased to exist when it was purchased by Hilton Hotels which then merged it with its other gaming properties to form Park Place Entertainment in , Hilton and Paris brand names with a total of two million square feet of gaming space, 29,000 hotel rooms and 54,000 employees worldwide. Additional information on Park Place Entertainment can be accessed through the company's web site at www.parkplace.com . NOTE: This press release contains "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the federal securities law, which are intended to qualify for the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. from liability provided there under. All statements which are not historical statements of fact are "forward-looking statements" for purposes of these provisions and are subject to numerous risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements include all financial projections, including projections of revenue, market share, earnings, EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become , free cash flow, statements of management's plans, objectives or expectations of future economic performance, statements regarding new developments or opportunities, statements of belief, and/or statements regarding anticipated construction, development, or acquisition. Additional information concerning potential risk factors that could affect the company's future performance are described from time to time in the company's reports filed with the Securities and Exchange Commission, including the company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2002. These reports may be viewed free of charge at the following website: www.sec.gov. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. A photo is available at URL: http://www.businesswire.com/cgi-bin/photo.cgi?pw.042403/bb5 |
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