Araskog, chairman and chief executive of ITT, in a statement. “We will ensure that our competitiveness in gaming is retained and enhanced,” said Rand V. Las Vegas already has seen two giant gambling complexes open this year and expects a third to open by December, swelling the city’s inventory of guest rooms by more than 6,500. The ambitious plans of New York-based ITT-which paid $1.7 billion less than two years ago to buy Caesars World, owner of Caesar’s Palace and other casinos-hotels-will help keep the company competitive with other rapidly growing industry giants, such as Hilton Hotels Corp. on Thursday announced a $2.5-billion expansion of its casino operations that includes a dramatic make-over of the famed Caesars Palace in Las Vegas and the development of a new chain of Planet Hollywood-themed casino-resorts. In one of the largest corporate investments in gaming, ITT Corp.
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