Is Park Place Set To Cash In?

Gambling companies don't usually show up on the radar screen of Bob Olstein, president of Olstein Financial Alert Fund, who is a fanatic about cash flow and financial strength. Yet Park Place Entertainment (PPE), the world's largest casino company, has caught Olstein's eye. The reason: Park Place is on a solid financial footing, generating excess cash flow of about $500 million through the third quarter--and it is expected to hit $700 million in 2001. On top of all that, Park Place is takeover bait, says Olstein.

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