One former Baywatch star replaces the other

When Carmen Electra needed more space, producers of a new magic show at Planet Hollywood Resort instead climbed to the top step of the lifeguard tower to get Pamela Anderson, the most famous "Baywatch" babe of them all.

Anderson will spend at least the summer as "The Beauty of Magic," adding the marquee sizzle to the revue co-starring Dutch illusionist Hans Klok, a relatively obscure name in the United States.

A source close to the deal said Anderson would be paid about $4 million for the 12-week engagement.

Another source, connected to a different party in the production, denied that figure and said that based on the revenue potential of the show, such a salary would not allow the show to break even.

Electra, who followed Anderson on the campy TV hit in 1997, dropped out of the venture earlier this week amid reports of troubled rehearsals. A production insider said she is claustrophobic, and could not stand being confined inside magical apparatus for the lengths of time required to perform the illusions.

Klok was not that specific after a Thursday news conference, but did say "the tricks were too difficult" for Electra. And the show will be pushed from its original May 12 opening to June 2 -- after a preview period starting May 24 -- to change some of the illusions.

Anderson, 39, "wanted to do big magic and difficult magic," Klok said. "She's gonna do some dangerous stuff."

The actress who recently filmed a cameo for a big-screen "Baywatch" movie, told reporters the opportunity is "my dream of becoming a Vegas showgirl come true. Another one off the list."

Casino owner Robert Earl said Anderson was "my first choice from the beginning." Later, he said initial attempts to secure her didn't work out "because of her kids. But now, somehow, with the summer coming up," the actress decided to have her two sons stay with her in a suite at the resort.

A spokesman for the show declined comment on Anderson's reported salary. The show's maximum gross potential would fall between $6 million and $9 million for the 12 weeks, depending on the number of performances.

A gross of $128,350 per show is a best-possible-case figure that does not subtract any show expenses and is based on selling every seat for every performance in the Planet Hollywood Theatre for the Performing Arts, which will be sized down to about 1,700 seats. Ticket prices will range from $35 to $105, with all seats for previews priced at $35.

The producer does have deep pockets. The production is backed by Stage Entertainment, an international theatrical company headed by Joop van den Ende. The Dutch producer ranked No. 606 on Forbes' 2006 list of The World's Richest People.