SOSNOFF HAS SMALL NUMBER OF CAESARS <CAW> SHARES
Martin T. Sosnoff said his <MTS
Acquisition Corp> to date has received only a "negligible"
number of Caesars World Inc shares in response to its 28-dlr-
per-share tender offer for all shares.
    Sosnoff also said he has held preliminary talks with Pratt
Hotel Corp <PRAT> and Southmark Corp <SM> on forming a joint
venture to enter into talks to acquire Caesars in a friendly
transaction in which Sosnoff would have a 50 pct interest and
Pratt and Southmark the remainder.
    Sosnoff said the talks with Pratt and Southmark are not
being actively pursued at the presentand may or may not be
continued in the future.  He said there could be no assurance
that a joint venture would be formed or that Caesars would
agreed to talks.  "Several preliminary contacts with
representatives of Caesars have not resulted in any indication
that it wishes to enter into such negotiations," Sosnoff said.
    He said based on talks with staff members of gaming
authorities, there can be no assurance that the necessary
regulatory review of its bid for Caesars World can be completed
by the original April Three expiration date.
    Sosnoff said it has extended the tender until May 15.  The
bid remains subject to regulatory approvals and the arrangement
of financing.
    Pratt, which owns the Sands Hotel and Casino in Atlantic
City, N.J., where Caesars operates the Boardwalk Regency Hotel
and Casino, recently waged an apparently unsuccessful campaign
to acquire control of Resorts International Inc <RTA> against
New York developer Donald Trump.  Southmark owns about 37 pct
of Pratt Hotel.
    Caesars World's boasrd has urged rejection of the offer on
the grounds that it is inadequate and has said it would
investigate alternative transactions.  Sosnoff currently owns
about 13.3 pct of Caesars World.
 Reuter
