Harrah's Entertainment

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International Guild of Hospitality & Restaurant Managers

Harrah's Entertainment (NYSE:HET)

One Harrah's Court
Las Vegas, NV 89119

Phone: (702) 407-6000
Web: www.harrahs.com
Email: investors@harrahs.com

Employees (last reported count): 42,000

Harrah's Entertainment, Inc., incorporated on November 2, 1989, operates 26 casinos in 13 states. The Company conducts its business through a wholly owned subsidiary, Harrah's Operating Company, Inc. (HOC), and through HOC's subsidiaries. The Company's casino business commenced operations in 1937.

As of December 31, 2002, the Company owned and/or operated a total of approximately 1,547,645 square feet of casino space, 42,585 slot machines, 1,167 table games, 14,431 hotel rooms or suites, approximately 365,422 square feet of convention space and 108 restaurants. In December 2002, the Company acquired the remainder of JCC Holding Company, which, together with its subsidiary, Jazz Casino Company LLC, owns and operates the Harrah's casino in New Orleans, Louisiana. In August 2002, the Company opened Harrah's Rincon Casino and Resort, owned by the Rincon San Luiseno Band of Mission Indians in Southern California.

Owned Casinos

The Company-owned casinos include Harrah's Atlantic City and the Mardi Gra-themed Atlantic City Showboat in New Jersey; Harrah's Las Vegas and Rio All-Suite Hotel & Casino in Nevada; Harrah's Lake Tahoe, Harvey's Resort & Casino and Bill's Casino in Lake Tahoe, Nevada; Harrah's Reno in Reno, Nevada; Harrah's Laughlin in Nevada; Harvey's Harrah's in Joliet, Illinois; Harrah's East Chicago Casino and Hotel in Indiana; Harrah's Tunica, a dockside casino in Mississippi; Harrah's Vicksburg in Mississippi; Harrah's New Orleans, a casino in Louisiana now 100%-owned by the Company; Harrah's Shreveport in Louisiana; Harrah's North Kansas City in Missouri; Harrah's St. Louis in Missouri; Harrah's Metropolis in Illinois; Harrah's Lake Charles in Louisiana, and Harrah's Council Bluffs in Iowa.

Managed Casinos

The casinos managed by the Company are Harrah's Phoenix Ak-Chin casino in Arizona; Harrah's Cherokee Smoky Mountains Casino in North Carolina; Harrah's Prairie Band Casino-Topeka in Kansas; Bluffs Run Casino, a dog racing facility located in Council Bluffs, Iowa, and Harrah's Rincon Casino and Resort in Southern California.

Other

The Company owns and operates Bluegrass Downs, a harness racetrack located in Paducah, Kentucky. The track holds live racing meets each fall, as well as year-round simulcasting of horse racing events. In addition, the Company manages a greyhound racing track in Council Bluffs, Iowa. The underlying property of this racetrack is owned by the Company and leased to the operator for whom the Company manages the operation.

The Company also owns a one-third interest in Turfway Park LLC, which is the owner of the Turfway Park thoroughbred racetrack, located on 197 acres in Boone County, Kentucky, and 47 acres of undeveloped land in the vicinity of the Turfway Park racetrack, which is held for sale. Turfway Park LLC owns a minority interest in Kentucky Downs LLC, which is the owner of the Kentucky Downs racetrack, located on approximately 262 acres in Simpson County, Kentucky. In the event casino gaming is established in Kentucky, the Company holds certain management rights, directly or through Turfway Park LLC, at both Turfway Park and Kentucky Downs.

In December 2002, the Company acquired a controlling interest in Louisiana Downs, a thoroughbred racetrack in Bossier City, Louisiana. The agreement gives Harrah's a 95% ownership interest in a limited liability company that now owns both Louisiana Downs and Harrah's Shreveport. The Company plans to install slot machines at the racetrack and expand and renovate the entertainment facility, which will be a land-based gaming facility. Plans call for Louisiana Downs to offer approximately 900 slot machines by the time racing season begins in June 2003, approval for which was granted by the Louisiana Gaming Control Board in February 2003. The Company expects to open a new permanent facility with approximately 1,500 slot machines by June 2004.

Disclaimer:
The data included within the Financial section is solely for information and does not construe a recommendation and/or endorsement by IGHRM or its members to invest funds with any of the companies listed. You are strongly advised to obtain professional advice with qualified individuals or corporations for any investments of funds.

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