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ITT READY TO STOP TAKING SPORTS BIDS AT CAESARS
Published January 31, 1995
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).