UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

~~Washington~~WASHINGTON, D.C. 20549

~~Form~~FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

~~Securities~~SECURITIES ~~Exchange~~EXCHANGE ~~Act~~ACT ofOF 1934

~~Date~~DATE ofOF ~~Report~~REPORT (~~Date~~DATE ofOF ~~earliest~~EARLIEST ~~event~~EVENT ~~reported~~REPORTED): ~~May~~MAY 1, 2005

PARK PLACE SECURITIES, INC.

(as depositor under the Pooling and Servicing Agreement,

dated as of May 1, 2005, providing for the issuance of

~~Asset~~ASSET-~~Backed~~BACKED ~~Pass~~PASS-~~Through~~THROUGH ~~Certificates~~CERTIFICATES, ~~Series~~SERIES 2005 -WCW1)

Park Place Securities, Inc.

(~~Exact~~EXACT ~~name~~NAME ofOF ~~registrant~~REGISTRANT asAS ~~specified~~SPECIFIED inIN ~~its~~ITS ~~charter~~CHARTER)

~~Delaware~~	~~333-121784-05~~Delaware	~~34-1993512~~	333-121784		34-1993512
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification Number)
(State or Other Jurisdiction		(Commission		(I.R.S. Employer
1100 Town & Country Road, Suite 1100 Orange, California		92868
of Incorporation)		File Number)		Identification Number)
(Address of Principal Executive Offices)		(Zip Code)

~~Registrant’s~~1100 ~~telephone~~Town ~~number,~~& ~~including~~Country ~~area~~Road, ~~code:~~Suite ~~714-564-0660~~1100

Orange, California		92868
(Address of Principal Executive Offices)	(Zip Code)

Registrant's telephone number, including area code: (714) 564-0660

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01.

Other Events

Description of the Certificates and the Mortgage Pool

Park Place Securities, Inc. (the “Registrant”) plans a series of certificates, entitled Park Place Securities, Inc. Asset-Backed Pass-Through Certificates, Series 2005-WCW1 (the “Certificates”), to be issued pursuant to a pooling and servicing agreement, dated as of May 1, 2005, among the Registrant as depositor, Countrywide Home Loans Servicing LPas master servicer, Wells Fargo Bank, N.A. as trustee and as swap administrator. The Certificates designated as the Series 2005-WCW1 Certificates will represent in the aggregate the entire beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a segregated pool (the “Mortgage Pool”) of conventional, one- to four-family, first and second lien fixed-rate and adjustable-rate residential mortgage loans having original terms to maturity up to 30 years (the “Mortgage Loans”).

Collateral Term Sheets

Morgan Stanley & Co Incorporated (the “Underwriter”) has advised the Registrant that it has furnished to certain prospective purchasers of Certificates certain materials, herein referred to as “Collateral Term Sheets”, in written form, which Collateral Term Sheets are in the nature of data tables and term sheet information relating to the Mortgage Loans or other assets of the Trust Fund.

The Collateral Term Sheets have been provided by the Underwriter. The information in the Collateral Term Sheets is preliminary and will be superseded by a prospectus supplement relating to the Certificates and by any other information subsequently filed with the Commission.

The Collateral Term Sheets were prepared by the Underwriter at the request of certain prospective investors. The Collateral Term Sheets may be based on information that differs from the information set forth in the prospectus supplement.

Section 9 - Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits

Item 9.01.	Financial Statements and Exhibits
	(a)	Financial Statements.

Financial Statements.

Not applicable.

(b) Pro Forma Financial Information.

Not applicable.

Exhibit No.	Item 601(a) of Regulation S- K Exhibit No.	Description
1	~~5.1, 8.1, 23.1~~99	~~Opinion~~Collateral ~~and~~Term ~~Consent~~Sheets of(as ~~Thacher~~defined ~~Proffitt~~in Item 5) that have been provided by Morgan Stanley & ~~Wood~~Co ~~LLP~~Incorporated to certain prospective purchasers of Park Place Mortgage Securities Inc. Asset-Backed Pass-Through Certificates, Series 2005-WCW1.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Dated: ~~May~~June 112, 2005

PARK PLACE SECURITIES, INC. ~~By: /s/ John P. Grazer Name: John P. Grazer Title: CFO~~

~~EXHIBIT~~By: ~~INDEX~~/s/ John P. Grazer Name: John P. Grazer Title: CFO

Exhibit Number	Item 601(a) of Regulation S-K Exhibit No.	Description
1	5.1, 8.1, 23.1	Opinion and Consent of Counsel

INDEX TO EXHIBITS

Exhibit No.

Item 601(a) of

Regulation S K

Exhibit No.

Description

Sequentially Numbered Page

Collateral Terms Sheets

Filed Manually

EXHIBIT 99.1

[FILED MANUALLY]

Filing Compare · Park Place Securities, Inc.