SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Park Place Entertainment Corporation
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(Name of Issuer)
Common
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(Title of Class of Securities)
700690100
(Cusip Number)
8/31/2001
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
/X/ Rule 13d-1 (b)
/ / Rule 13d-1 (c)
/ / Rule 13d-1 (d)
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CUSIP NO. 700690100 13G
1) NAME OF REPORTING PERSON I.R.S. NUMBER OF REPORTING PERSON
Wallace R. Weitz & Company Tax I.D. No. 47-0654095
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) [ ]
(b) X
3) SEC USE ONLY
4) CITIZENSHIP OR PLACE OF ORGANIZATION
State of Nebraska
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5) Sole Voting Power: 30,071,600
6) Shared Voting Power: None
7) Sole Dispositive Power: 30,071,600
8) Shared Dispositive Power: None
9) AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
30,071,600
10) CHECK IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
[ ]
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9.
10.1%
12) TYPE OF REPORTING PERSON
IA
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CUSIP NO. 700690100 13G
1) NAME OF REPORTING PERSON
Wallace R. Weitz
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) [ ]
(b) X
2) SEC USE ONLY
3) CITIZENSHIP OR PLACE OF ORGANIZATION
Citizen of the United States of America
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5) Sole Voting Power: None
6) Shared Voting Power: 30,071,600
7) Sole Dispositive Power: None
8) Share Dispositive Power: 30,071,600
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
30,071,600
10) CHECK IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
[ ]
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.1%
12) TYPE OF REPORTING PERSON
IN
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Item 1(a). Name of Issuer:
Park Place Entertainment Corporation
Item 1(b). Address of Issuer's Principal Executive Office:
3930 Howard Hughes Parkway
Las Vegas, Nevada 89109
Item 2(a). Names of Persons Filing:
Wallace R. Weitz & Company
Wallace R. Weitz, President and Primary Owner of
Wallace R. Weitz & Company
Item 2(b). Principal Business Address of Persons Filing:
1125 South 103rd Street, Suite 600
Omaha, Nebraska 68124-6008
Item 2(c). Citizenship:
Wallace R. Weitz & Company - State of Nebraska
Wallace R. Weitz - Citizen of United States of America
Item 2(d). Title of Class of Securities:
Common Stock
Item 2(e). CUSIP Number:
700690100
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b),
check whether the person filing is a:
(e) Investment Adviser registered under Section 203 of the Investment
Advisers Act of 1940. This statement is being filed by Wallace R.
Weitz & Company ("Weitz & Co.") as a registered investment
adviser. All of the securities reported in this statement are
owned of record by investment advisory clients of Weitz & Co. and
none are owned directly or indirectly by Weitz & Co. As permitted
by Rule 13d-4, the filing of this statement shall not be
construed as an admission that Weitz & Co. is the beneficial
owner of any of the securities covered by the statement.
(g) Control Person. This statement is also being filed by Wallace R.
Weitz ("Weitz"), President and primary owner of Weitz & Co. in
the event he could be deemed to be an indirect beneficial owner
of the securities reported by Weitz & Co. through the exercise of
voting control and/or dispositive power over the securities as a
result of his official positions or ownership of the voting
securities of Weitz & Co. Mr. Weitz does not own directly or
indirectly any securities covered by this statement for his own
account. As permitted by Rule 13d-4, the filing of this statement
shall not be construed as an admission that Mr. Weitz is the
beneficial owner of any of the securities covered by this
statement.
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Item 4. Ownership:
(a) Amount Beneficially Owned:
(i) Weitz & Co. 30,071,600 Shares
(ii) Weitz 30,071,600 Shares
(b) Percent of Class:
(i) Weitz & Co. 10.1%
(ii) Weitz 10.1%
(c) Number of Shares as to which such person has:
(I) sole power to direct vote:
(i) Weitz & Co. 30,071,600
(ii) Weitz 0
(II) shared power to direct vote:
(i) Weitz & Co. 30,071,600
(ii) Weitz 30,071,600
(III) sole power to dispose:
(i) Weitz & Co. 30,071,600
(ii) Weitz 0
(IV) shared power to dispose:
Weitz & Co. 30,071,600
Weitz 30,071,600
Item 5. Ownership of Five Percent or Less of a Class
N/A
Item 6. Ownership of More Than Five Percent on Behalf of Another Person
Weitz Series Fund, Inc.-Value Fund, a registered investment
company, is the record owner of 16,811,500 shares of the Issuer
as of August 31, 2001, representing 5.6% of the Issuer's shares.
Wallace R. Weitz & Company has the sole power to vote or direct
the vote of the securities covered by this statement.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company
N/A
Item 8. Identification and Classification of Members of the Group
N/A
Item 9. Notice of Dissolution of Group
N/A
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Item 10. Certification
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose
of and do not have the effect of changing or influencing the
control of the issuer of such securities and were not acquired in
connection with or as a participant in any transaction having
such purposes or effect.
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.
Date : September 7, 2001
WALLACE R. WEITZ & COMPANY
By: /s/ Wallace R. Weitz
Name: Wallace R. Weitz
Title: President
WALLACE R. WEITZ
(Individually)
/s/ Wallace R. Weitz
Joint Filing Agreement
In accordance with Rule 13d-1 (k) under the Securities Exchange Act of 1934, the
persons or entities named below agree to the joint filing on behalf of each of
them of this Schedule 13G with respect to the securities of the Issuer and
further agree that this joint filing agreement be included as an exhibit to this
Schedule 13G. In evidence thereof, the undersigned hereby execute this agreement
as of the 7th day of September, 2001.
WALLACE R. WEITZ & COMPANY
By: /s/ Wallace R. Weitz
Name: Wallace R. Weitz
Title: President
WALLACE R. WEITZ
(Individually)
/s/ Wallace R. Weitz