News Details

LAS VEGAS, June 19 -- Park Place Entertainment (NYSE: PPE) and International Game Technology (NYSE: IGT) today announced that PPE and IGT have signed an agreement for a multi-year/multi-property installation of EZ Pay(TM) systems including a minimum of 15,000 IGT EZ Play(TM) ticket- in/ticket-out gaming machines. This follows a successful four-month trial during which the EZ Pay(TM) system proved popular with Park Place players in Nevada and Mississippi.

Under the agreement, following the receipt of all regulatory approvals, Park Place will install IGT's EZ Play(TM) machines and EZ Pay(TM) systems in Las Vegas at Caesars Palace, Bally's, Paris and the Flamingo; and in Atlantic City at the Hilton, Caesars, Bally's, Claridge and Wild Wild West casinos. PPE will offer its players the added convenience of ticket payouts on all machines at these locations.

Installation of the systems and gaming machines will begin this year and is scheduled for completion no later than December 31, 2004.

"This agreement is an example of Park Place's commitment to feature cutting-edge gaming attractions in our casinos," said Thomas E. Gallagher, president and chief executive officer of Park Place Entertainment. "We have found that cash-optional transactions are a convenience that our guests expect and appreciate. We are pleased to add this feature to our mix of gaming machines. The operational efficiencies are obvious. More important is our players' enjoyment as we reduce the interruptions and delays in filling coin hoppers."

G. Thomas Baker, IGT's president and CEO, said, "We are pleased to see a gaming industry leader such as Park Place commit to this new technology. IGT's development efforts to introduce EZ Pay(TM) technology as an industry standard have been a multi-year commitment, and we're convinced the benefits to Park Place and their customers will be significant. We also believe this exciting decision by Park Place will help push this new trend forward within our industry."

Baker went on to say that the overall feedback shows the vast majority of players think EZ Pay(TM) is a positive improvement in their gaming experience. The number one advantage reported by casino customers is that the EZ Play(TM) machines are more convenient and allow them more flexibility in game denomination and game selection.

EZ Play(TM) machines combine ticket printers with traditional hopper pays to improve the cashout function for players. Operators can program the machine to pay a portion of the payout in coins and the balance in the form of a ticket. The ticket can be reinserted in other EZ Play(TM) machines; exchanged for cash at a cashier's station; cashed by attendants on the casino floor using wireless validation units; or held by the player for use at a later time. The system can also be programmed to pay out tickets only, using the hopper as a backup.

The EZ Pay(TM) system also allows operators to utilize IGT's new EZ Play Multi-Denomination(TM) games, so players may select the game denomination -- from one cent up to $25 -- on a single machine. Players can still insert bills or coins to start playing and can change their wager without the bother of collecting and converting coins when they cash out.

Park Place Entertainment is the world's largest gaming company and owns, manages or has an interest in 29 gaming properties operating under the Bally's, Caesars, Flamingo, Grand Casinos and Hilton brand names with a total of approximately 2 million square feet of gaming space, over 28,000 hotel rooms and approximately 60,000 employees worldwide. Additional information about Park Place Entertainment is available through the company's 24-hour investor relations service. Individuals may call toll-free 877-PPE-NYSE (877-773-6973) or visit http://www.parkplace.com to obtain the latest Company news and stock price information, or to request information by email, fax or postal mail delivery.

IGT is a world leader in the design, development and manufacture of microprocessor-based gaming products and software systems in all jurisdictions where gaming is legal. For more information about IGT, visit the company's web site at http://www.IGT.com.

Note: This press release contains "forward-looking statements" within the meaning of federal securities law, including statements concerning company plans, expectations and projections. The forward-looking statements in this press release are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those expressed in or implied by the statements herein. Additional information concerning potential factors that could affect the companies' future financial results is included in the Park Place annual report on Form 10-K for the year ended Dec. 31, 2000 and the IGT annual report on Form 10-K for the year ended September 30, 2000.