Harrah's Entertainment Inc
Industry: Casinos & Gaming

Founded in 1937, Harrah's Entertainment, Inc. is the most recognized and respected name in the casino-entertainment industry, operating 25 casinos in the United States, primarily under the Harrah's brand name. Harrah's Entertainment is focused on building loyalty and value with its target customers through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technological leadership.

Business Summary
Harrah's Entertainment, Inc. (Harrah's) is a casino entertainment provider, which through a wholly owned subsidiary, Harrah's Operating Company, Inc., owns or manages 28 casinos in the United States. Its casino-entertainment facilities operate primarily under the Harrah's, Rio, Showboat, Horseshoe and Harveys brand names, and include 11 land-based casinos, 11 riverboat or dockside casinos, four casinos on Indian reservations, a combination greyhound-racing facility and casino, and a combination thoroughbred racetrack and casino. The Company's facilities also include hotel and convention space, restaurants and non-gaming entertainment facilities. The Company's facilities have an aggregate of approximately 1.7 million square feet of gaming space and 17,100 hotel rooms. On July 1, 2004, the Company completed the acquisition of Horseshoe Gaming Holding Corp. In October 2004, the Company suspended the operation of LuckyMe, its online-gaming initiative in the United Kingdom.

Financial Summary
HET operates hotel casinos in Reno, Lake Tahoe, Las Vegas and Laughlin, Nevada and Atlantic City, New Jersey. The company also operates riverboat, dockside and Indian reservation casinos. For the 6 months ended 06/30/05, revenues rose 33% to $2.72B. Net income from cont. ops. rose 12% to $177.6M. Results reflect an increase in revenues from casinos, partially offset by the presence of Caesars aquisition costs.