Amendment To Restructuring Agreement

EXHIBIT 10(bz)


AMENDMENT TO RESTRUCTURING AGREEMENT


WHEREAS, the Claridge Hotel and Casino Corporation, a New York corporation (the "Corporation"), The Claridge at Park Place, Incorporated, a New Jersey corporation ("CPPI"), and Atlantic City Boardwalk Associates, L.P., a New Jersey limited partnership ("ACBA"), entered into a Restructuring Agreement, dated March 1, 1997 (the "Restructuring Agreement") (terms not defined in this Amendment shall have the meanings given to them in the Restructuring Agreement).


WHEREAS, ACBA is considering entering into a Sixth Amendment to the operating lease and a Fifth Amendment to the expansion operating lease, dated as of September 30, 1998 (the "Sixth Amendment"); and


WHEREAS, CHCC and CPPI desire to amend certain provisions of the Restructuring Agreement, as set forth below;


NOW, THEREFORE, as an inducement to ACBA's entering into the Sixth Amendment, the parties hereto hereby agree as follows:


1. Amendments


The Restructuring Agreement is hereby amended in the following respects:


(a) The language in subclauses (i) and (ii) of Section 2(b) of
the Restructuring Agreement shall be amended to read in their
entirety as follows:


(i) The definition of "Maturity Date" in Section 1 of the
Expandable Wraparound Mortgage Loan Agreement will be
amended by replacing "September 30, 2000" with "January
1, 2005".


(ii) Section 9 of the First Amendment will be amended as
follows:


a. In Section 2.1(a)(i), the reference to "September
30, 2000" will be replaced with "Janua ...