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Park Place Canadian affiliate names Kevin Laforet president and CEO of Casino Windsor
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01/16/2005
June 20, 2003--Windsor Casino Limited, a Canadian affiliate of Park Place Entertainment Corporation (NYSE:PPE), today named Kevin Laforet as the new president and CEO of Casino Windsor in Windsor, Ontario.
In his new role, Laforet will oversee the operations of Canada's leading casino/hotel facility featuring 389 guest rooms and 100,000 square feet of gaming space, located in the heart of downtown Windsor on the Detroit River.
Laforet, who most recently served as chief operating officer at Casino Windsor, replaces Bobby Yee, who returned to Las Vegas in May to head up Park Place's Paris Las Vegas and Bally's Las Vegas casino resorts.
"We are very pleased to have an executive of Kevin's caliber as the new president of Casino Windsor," said Park Place President and Chief Executive Officer Wallace R. Barr. "Because he's been with Casino Windsor from the very beginning, Kevin is intimately familiar with the Windsor operation and the Detroit-Windsor regional market."
Laforet said, "I'm excited about leading such a great team, which has made Casino Windsor the premier casino in the Detroit-Windsor market. I look forward to building on our marketing and entertainment programs as we continue to offer our customers the best casino experience in the region."
An influential member of Windsor Casino Limited's executive team for nearly a decade, Laforet has served in many senior positions with the company, moving from financial controller to vice president and chief financial officer during his first year. In 1998, he was appointed to executive vice president and in 2000 he was named chief operating officer.
A native to the Windsor area for more than 30 years, Laforet graduated from the University of Windsor with a business degree, and has been a chartered accountant since 1983. An active member of the community, he currently serves as a member of the Board of Governors for the University of Windsor. He also has served on the board of directors for the United Way of Windsor/Essex County and the Windsor branch of the Multiple Sclerosis Society of Ontario. He is a resident of Lakeshore, Ontario, where he lives with his wife Julie and three children.
Park Place Entertainment is a 50 percent owner, with Hilton Hotels Corporation (NYSE:HLT), of Windsor Casino Limited. Park Place 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, Grand Casinos, Hilton and Paris brand names with a total of approximately two million square feet of gaming space, 29,000 hotel rooms and 54,000 employees worldwide.
NOTE: This press release contains "forward-looking statements" within the meaning of the federal securities law, which are intended to qualify for the safe harbor 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, 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 for the year ended December 31, 2002 and its Report 10-Q for the quarter ended March 31, 2003. The 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.
