The term 'Playing Place' can be solved by the word 'ARENA', which is a five-letter word. An ARENA is an enclosed area, often circular or oval-shaped, designed to showcase theater, sporting or other events. It is composed of a large open space surrounded on most or all sides by tiered seating for spectators. The key feature of an ARENA is that the event space is the lowest point, allowing for maximum visibility. Arenas are usually designed to accommodate a variety of events and performances, including concerts, ice shows, circuses, and sporting events such as basketball, hockey, and tennis.