Harrah's Notifies New York Stock Exchange of Intent to Delist Common Stock

Jan 18, 2008, 00:00 ET from Harrah's Entertainment, Inc.

    LAS VEGAS, Jan. 18 /PRNewswire-FirstCall/ -- Harrah's Entertainment,
 Inc. (NYSE:   HET) today announced that it notified the New York Stock
 Exchange, the Philadelphia Stock Exchange and the Chicago Stock Exchange
 (collectively, the "Exchanges") of its intent to delist its common stock,
 par value $0.10 per share, from the Exchanges immediately following the
 consummation of the transactions contemplated by the agreement and plan of
 merger dated as of December 19, 2006 by and among Harrah's Entertainment,
 Hamlet Holdings LLC and Hamlet Merger Inc.
     (Logo: http://www.newscom.com/cgi-bin/prnh/20070718/HARRAHSLOGO)
     At the effective time of the merger, each issued and outstanding share
 of Harrah's common stock (other than shares of Harrah's common stock owned
 by Hamlet Holdings LLC, Hamlet Merger Inc. or any subsidiary of Hamlet
 Holdings LLC or Harrah's or held in the treasury of Harrah's) shall be
 canceled and converted into the right to receive $90.00 in cash, without
     As a result of the merger, Harrah's will cease to be a publicly-traded
 company. Subject to customary closing conditions, Harrah's expects to close
 the transaction on January 28, 2008.
     About Harrah's Entertainment
     Harrah's Entertainment, Inc. is the world's largest provider of branded
 casino entertainment. Since its beginning in Reno, Nevada 70 years ago,
 Harrah's has grown through development of new properties, expansions and
 acquisitions, and now owns or manages casinos on four continents. The
 company's properties operate primarily under the Harrah's(R), Caesars(R)
 and Horseshoe(R) brand names; Harrah's also owns the London Clubs
 International family of casinos. Harrah's Entertainment is focused on
 building loyalty and value with its customers through a unique combination
 of great service, excellent products, unsurpassed distribution, operational
 excellence and technology leadership.
     For more information, please visit: http://www.harrahs.com.
     This release includes "forward-looking statements" intended to qualify
 for the safe harbor from liability established by the Private Securities
 Litigation Reform Act of 1995. You can identify these statements by the
 fact that they do not relate strictly to historical or current facts. These
 statements contain such words as "may," "will," "project," "might,"
 "expect," "believe," "anticipate," "intend," "could," "would," "estimate,"
 "continue," or "pursue," or the negative or other variations thereof or
 comparable terminology. In particular, they include statements relating to,
 among other things, future actions, new projects, strategies, future
 performance, the outcomes of contingencies and future financial results of
 Harrah's. These forward-looking statements are based on current
 expectations and projections about future events.
     Investors are cautioned that forward-looking statements are not
 guarantees of future performance or results and involve risks and
 uncertainties that cannot be predicted or quantified and, consequently, the
 actual performance of Harrah's may differ materially from those expressed
 or implied by such forward-looking statements. Such risks and uncertainties
 include, but are not limited to, the following factors, as well as other
 factors described from time to time in our reports filed with the
 Securities and Exchange Commission (including the sections entitled "Risk
 Factors" and "Management's Discussion and Analysis of Financial Condition
 and Results of Operations" contained therein): the occurrence of any event,
 change or other circumstances that could give rise to the termination of
 the merger agreement with Apollo and TPG; the outcome of any legal
 proceedings that have been, or will be, instituted against the Company
 related to the merger agreement; the inability to complete the merger due
 to the failure to satisfy conditions to completion of the merger, including
 receipt of all regulatory approvals related to the merger; the failure to
 obtain the necessary financing arrangements set forth in the debt and
 equity commitment letters delivered pursuant to the merger agreement; risks
 that the proposed transaction disrupts current plans and operations and the
 potential difficulties in employee retention as a result of the merger; the
 impact of the substantial indebtedness to be incurred to finance the
 consummation of the merger; the effects of local and national economic,
 credit and capital market conditions on the economy in general, and on the
 gaming and hotel industries in particular; construction factors, including
 delays, increased costs for labor and materials, availability of labor and
 materials, zoning issues, environmental restrictions, soil and water
 conditions, weather and other hazards, site access matters and building
 permit issues; the effects of environmental and structural building
 conditions relating to our properties; access to available and reasonable
 financing on a timely basis; the ability to timely and cost-effectively
 integrate acquisitions into our operations; changes in laws, including
 increased tax rates, regulations or accounting standards, third-party
 relations and approvals, and decisions of courts, regulators and
 governmental bodies; litigation outcomes and judicial actions, including
 gaming legislative action, referenda and taxation; the ability of our
 customer-tracking, customer loyalty and yield-management programs to
 continue to increase customer loyalty and same store sales or hotel sales;
 our ability to recoup costs of capital investments through higher revenues;
 acts of war or terrorist incidents or natural disasters; abnormal gaming
 holds; and the effects of competition, including locations of competitors
 and operating and market competition.
     Any forward-looking statements are made pursuant to the Private
 Securities Litigation Reform Act of 1995 and, as such, speak only as of the
 date made. Harrah's disclaims any obligation to update the forward-looking
 statements. You are cautioned not to place undue reliance on these
 forward-looking statements which speak only as of the date stated, or if no
 date is stated, as of the date of this press release.

SOURCE Harrah's Entertainment, Inc.