Park Place Building $65 Million Arena at Caesars in Las Vegas

(Bloomberg) -- Park Place Entertainment Corp., the largest casino company, said it's building a $65 million entertainment arena at its Caesars Palace casino in Las Vegas.

The Las Vegas-based company also may build an 800-suite hotel tower at Caesars that would include conference and retail space, Park Place said in a press release issued by Business Wire.

The 4,000-seat arena, designed to resemble the Colosseum in Rome, will have a 22,000 square foot stage and will replace the casino's Circus Maximus Showroom.

Park Place acquired the Caesars chain from Starwood Hotels & Resorts Worldwide Inc. in 1999. The company is renovating the property to add new facades, poolside villa suites and new restaurants.

Park Place also owns casinos including Paris in Las Vegas and the Bally's Park Place in Atlantic City, New Jersey.

Apr/11/2001 10:06 ET