ATLANTIC CITY A ruling by the New Jersey Casino Control Commission contended Park Place Entertainment would not enjoy an unfair economic and competitive advantage if it buys the embattled Claridge Hotel and Casino in bankruptcy court.
Falling short of giving full blessing to the move, the commission did limit Park Place s future development to land it already owns in Atlantic City. However, this restriction will likely not do much to assuage entrepreneur Carl Icahn s disappointment over this latest blunting of his attempts to wrest control of the 20-year-old, cash-strapped property.
Icahn heads Great Bay Holdings, which late last year topped Park Place in the contest for the then-bankrupt Sands Hotel and Casino here. (2/1/01)