SBD/31/Franchises

ITT READY TO STOP TAKING SPORTS BIDS AT CAESARS

     ITT Corp. said it has reached a "general understanding" with
NHL and NBA officials to "eventually stop taking sports bets at
Caesars Palace and its other Nevada casinos," according to this
morning's WALL STREET JOURNAL.  The agreement reportedly leaves
open the "possibility that ITT will be able to help its customers
place sports bets at other casinos."  ITT's deal for Madison
Square Garden -- which includes the Rangers and Knicks -- could
be finalized this week.  The deal had been delayed since ITT's
acquisition of Caesars World, as both the NHL and NBA "bar team
owners from owning businesses that take bets on sporting events"
(WALL STREET JOURNAL, 1/31).
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