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CLARIDGE CONTINUES TO FLOUNDER

May 5, 2001 7:51 PM

In what could be its last financial statement, the Claridge Hotel and Casino reported a $1.1 million negative cash flow for the quarter ended March 31.

Claridge reported a negative cash flow of $2.1 million the previous quarter.

Park Place Entertainment has proposed buying the hotel out of bankruptcy for $65 million. The proposal is being voted upon by Claridge creditors; a confirmation hearing in Bankruptcy Court is scheduled for May 16.