Someone suggested the other day to boycott PARK PLACE Casinos for their Black Jack payoff of 6 to 5 for a BJ at some Vegas properties.

Park Place Cuts Earnings Estimate

.c The Associated Press

LAS VEGAS (AP) - Park Place Entertainment Corp., the world's largest casino company, Thursday cut its earnings forecast for the third quarter.

The casino-hotel concern cited poor results at its Caesars Palace in Las Vegas

Park Place now expects third-quarter earnings excluding items of 14 cents to 16 cents a share, lower than analysts' expectations of 19 cents a share, according to Thomson First Call.

In July, the company estimated earnings of 17 to 19 cents a diluted share. In last year's third quarter, Las Vegas-based Park Place reported earnings excluding items of 6 cents a share.

Park Place also expects non-operating impairment losses related to the termination of an energy contract with Enron Corp. and damage from Tropical Storm Isidore to further reduce third-quarter earnings to 12 cents to 14 cents a share.

Park Place said the Enron contract termination resulted in a $7.5 million charge, while Isidore caused an estimated $2.5 million in damage to the company's Gulf Coast properties.

Park Place owns some 30 casino-hotel resorts in five countries. Among them are Bally's Las Vegas, Atlantic City Hilton and Grand Casino Biloxi.

Shares of Park Place Thursday closed at $7.57 on the New York Stock Exchange, down 57 cents or 7 percent.