PARK PLACE ENTERTAINMENT CORP
EXHIBIT 10.1
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<DESCRIPTION>EXHIBIT 10.1
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<P ALIGN="RIGHT"><FONT SIZE=2><B>Exhibit 10.1  </B></FONT></P>

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<P><FONT SIZE=2>April
29, 2002 </FONT></P>

<P><FONT SIZE=2>Thomas
E. Gallagher<BR>
405 Tracy Court<BR>
Incline Village, NV 89451 </FONT></P>

<P><FONT SIZE=2><B>Re:&nbsp;&nbsp;&nbsp;&nbsp;Relocation Loan  </B></FONT></P>

<P><FONT SIZE=2>Dear Tom: </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reference
is made to the Employment Agreement, dated October&nbsp;23, 2000, ("Employment Agreement") between you and Park Place Entertainment Corporation ("Company"). </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
will confirm that Section&nbsp;3(i) of the Employment Agreement is amended to provide that the relocation loan referred to therein shall be repaid on the earlier of
(a)&nbsp;termination of your employment with the Company, and (b)&nbsp;the date that you sell your residence in Los Angeles, California. </FONT></P>

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<TD WIDTH="49%"><FONT SIZE=2>Sincerely,<BR>
Park Place Entertainment Corporation</FONT></TD>
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/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>STEVE BELL</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Steve Bell<BR>
Senior Vice President&#151;Human Resources</FONT></TD>
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<TD WIDTH="49%"><FONT SIZE=2>Agreed and accepted this 29<SUP>th</SUP> day of April, 2002, effective as of October&nbsp;22, 2001.</FONT></TD>
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/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>THOMAS E. GALLAGHER</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Thomas E. Gallagher</FONT></TD>
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