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BRIEFLY

Nevada regulators supported Caesars' plan.

July 03, 1987

The Gaming Control Board voted 2 to 1 in favor of a recapitalization plan by Caesars World Inc. that surfaced after a hostile bid by investor Martin Sosnoff. All three board members voiced concerns over whether Caesars could afford a debt of nearly $1 billion under the plan and still maintain the quality of its Nevada hotel-casinos. Under the plan, shareholders will receive a dividend-stock package valued at $35 per share.

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