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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
 
                               ----------------
 
                                AMENDMENT NO. 1
                                       TO
                                 SCHEDULE 14D-1
 
                             TENDER OFFER STATEMENT
                          PURSUANT TO SECTION 14(d)(1)
                     OF THE SECURITIES EXCHANGE ACT OF 1934
 
                                      AND
 
                                  SCHEDULE 13D
 
                   UNDER THE SECURITIES EXCHANGE ACT OF 1934
 
                               ----------------
 
                              CAESARS WORLD, INC.
                           (NAME OF SUBJECT COMPANY)
 
                               ----------------
 
                         ITT FLORIDA ENTERPRISES, INC.
                                ITT CORPORATION
                                   (BIDDERS)
 
                               ----------------
 
                    COMMON STOCK, PAR VALUE $0.10 PER SHARE
(INCLUDING THE ASSOCIATED JUNIOR PARTICIPATING PREFERRED STOCK PURCHASE RIGHTS)
                         (TITLE OF CLASS OF SECURITIES)
 
                               ----------------
 
                                   127695104
                     (CUSIP NUMBER OF CLASS OF SECURITIES)
 
                               ----------------
 
                           WALTER F. DIEHL, JR., ESQ.
                                ITT CORPORATION
                          1330 AVENUE OF THE AMERICAS
                            NEW YORK, NY 10019-5490
                                 (212) 258-1000
          (NAME, ADDRESS AND TELEPHONE NUMBER OF PERSONS AUTHORIZED TO
            RECEIVE NOTICES AND COMMUNICATIONS ON BEHALF OF BIDDERS)
 
                               ----------------
 
                                   COPIES TO:
                            PHILIP A. GELSTON, ESQ.
                            CRAVATH, SWAINE & MOORE
                                WORLDWIDE PLAZA
                               825 EIGHTH AVENUE
                            NEW YORK, NEW YORK 10019
                                 (212) 474-1000
 
                               ----------------
 
                     Page 1 of 6. Exhibit Index on Page 6.
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                                 14D-1 AND 13D
 
  CUSIP NO. 127695104
 
 
1.  NAME OF REPORTING PERSONS: S.S. OR I.R.S.
    IDENTIFICATION NO. OF ABOVE PERSON:
 
    ITT Florida Enterprises, Inc. (13-3799502)
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2.  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                    (a) [_]
                                                                        (b) [_]
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3.  SEC USE ONLY

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4.  SOURCES OF FUNDS: AF

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5.  CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
    2(e) or 2(f)                                                            [_]

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6.  CITIZENSHIP OR PLACE OF ORGANIZATION:
    Florida

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7.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
    PERSON:

    6,379,438

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8.  CHECK IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES
    CERTAIN SHARES                                                          [_]

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9.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7):
 
    Approximately 20.3%* of the Shares Outstanding as
    of December 21, 1994.
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10. TYPE OF REPORTING PERSON:
    CO

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* See note on next page.
 
                                  Page 2 of 6

 
                                 14D-1 AND 13D
 
  CUSIP NO. 127695104
 
 
1. NAME OF REPORTING PERSONS: S.S. OR I.R.S.
   IDENTIFICATION NO. OF ABOVE PERSON:
   
 
   ITT Corporation (13-5158950)
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                      (a) [_]
                                                                         (b) [_]
                                                                     
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3. SEC USE ONLY:
   
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4. SOURCES OF FUNDS: BK, WC, OO
 
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5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
   2(e) or 2(f)                                                              [_]
   
                                                                         
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6. CITIZENSHIP OR PLACE OF ORGANIZATION:
 
   Delaware
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7. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
   PERSON:
 
   6,379,438
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8. CHECK IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES
   CERTAIN SHARES:                                                           [_]
 
                                                                         
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9. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7)
 
 
   Approximately 20.3%* of the Shares Outstanding as
   of December 21, 1994.
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10. TYPE OF REPORTING PERSON:
    CO, HC

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* The previously disclosed percentage was computed incorrectly. All other
 information, including Share ownership, has not changed.
 
                                  Page 3 of 6

 
  ITT Corporation ("Parent") and ITT Florida Enterprises, Inc. hereby amend and
supplement their combined Tender Offer Statement on Schedule 14D-1 and
Statement on Schedule 13D originally filed on December 23, 1994 (the
"Statement"), with respect to an offer (the "Offer") to purchase all
outstanding shares of common stock, $0.10 par value, of Caesars World, Inc., a
Florida corporation (the "Company"), together with the associated junior
participating preferred stock purchase rights, on the terms described in the
Offer to Purchase dated December 23, 1994. Capitalized terms not defined herein
have the meanings assigned thereto in the Statement.
 
ITEM 10. ADDITIONAL INFORMATION.
 
  On January 6, 1995, Parent announced that the waiting period under the HSR
Act expired at 11:59 p.m., New York City time, on January 5, 1995 with respect
to the Offer. The press release in respect of the announcement is filed
herewith.
 
ITEM 11. MATERIAL TO BE FILED AS EXHIBITS.
 
  (a)(10) Text of press release dated January 6, 1995.
 
                                  Page 4 of 6

 
                                   SIGNATURE
 
  After due 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.
 
Dated: January 6, 1995
 
                                          ITT Florida Enterprises, Inc.
 
                                          By: /s/ Walter F. Diehl, Jr.
                                            -----------------------------------
                                            Name: Walter F. Diehl, Jr.
                                            Title: Vice President
 
                                          ITT Corporation
 
                                          By: /s/ Walter F. Diehl, Jr.
                                            -----------------------------------
                                            Name: Walter F. Diehl, Jr.
                                            Title: Vice President
 
 
 
 
 
                                  Page 5 of 6

 
                                 EXHIBIT INDEX
 
SEQUENTIALLY NUMBERED EXHIBIT NO. DESCRIPTION PAGES ----------- ----------- ------------ (a)(10) Text of press release dated January 6, 1995
Page 6 of 6

 
                                                               EXHIBIT (a)(10)

                        [LETTERHEAD OF ITT CORPORATION]
 
                                                           DATE: JANUARY 6, 1995
                                                        CONTACT:   JIM GALLAGHER
                                                      TELEPHONE:    212-258-1261
                                                           FOR IMMEDIATE RELEASE
 
                                      ITT
                   ANNOUNCES EXPIRATION OF HART-SCOTT-RODINO
                     WAITING PERIOD IN CONNECTION WITH ITS
                         OFFER FOR CAESARS WORLD, INC.
 
  New York, N.Y., January 6, 1995--ITT Corporation announced today that the
waiting period under the provisions of the Hart-Scott-Rodino Antitrust
Improvements Act of 1976 expired at 11:59 p.m., New York City time, on January
5, 1995, with respect to its tender offer to purchase all outstanding shares of
common stock of Caesars World, Inc. for $67.50 per share, net to the seller in
cash. ITT had previously filed on December 21, 1994, a Notification and Report
Form under the Hart-Scott-Rodino Antitrust Improvements Act with respect to the
offer.
 
  The offer and withdrawal rights expire at 12:00 midnight, New York City time,
on Tuesday, January 24, 1995, unless extended.
 
                                    --ITT--
 
             1330 AVENUE OF THE AMERICAS, NEW YORK, N.Y. 10019-5400
             TELEPHONE (212) 258-1000 FACSIMILE (212) 258-1037/1034