Harrah's Entertainment and Sumner Gaming and Resorts Announce a $500 Million Destination Casino Proposal for Sumner County, Kansas

Harrah's Entertainment and Sumner Gaming and Resorts Announce a $500 Million Destination Casino Proposal for Sumner County, Kansas

LAS VEGAS, and WELLINGTON, Kan., Nov. 28 /PRNewswire-FirstCall/ -- Harrah's Entertainment, Inc. (NYSE:HET) and Sumner Gaming and Resorts announced today their proposal for a destination resort to be located in Sumner County, Kansas, which was submitted to the Sumner County Commission today for its consideration. Subject to certain customary conditions and receipt of corporate approvals, the proposal was also submitted earlier this month to the Kansas State Lottery for their review. The proposed site is approximately 500 acres and is conveniently located off of I-35 at Highway 53 in an unincorporated area of Belle Plaine Township in Sumner County.

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"Our plan calls for an exciting, high-quality destination where guests can immerse themselves from dawn to dark without ever exhausting the resort's near-limitless range of offerings," said Charles Atwood, vice chairman of the board. "With our extensive network into the world's most powerful brands -- Country Music Television (CMT), Toby Keith, Paula Deen, Butch Harmon, Bobby Weed and many more -- only Harrah's can deliver this unique destination resort for Kansas."

The Harrah's Kansas plan calls for a wide variety of world-class amenities that will aid in driving tourism to Sumner County, Kansas. The anticipated amenities will include:

   o  A Las Vegas-style gaming floor, including a World Series of Poker      Room.   o  A wide variety of restaurants to suit every taste and budget; from a      premium steakhouse to a fine-dining restaurant helmed by TV personality       and restaurateur, Paula Deen, to a Toby Keith-branded bar and grill to      a casual cafe and multiple fast food outlets.   o  A 1,600 seat amphitheater for outdoor concerts.   o  A championship golf course, contemplated to be designed by Bobby Weed,      in collaboration with Butch Harmon, complete with a Butch Harmon School       of Golf.   o  A 30,000-square-foot, state-of-the-art conference facility.   o  High-energy nightclubs and lounges.   o  275 beautifully appointed hotel rooms, including 30 luxury suites and      five private pool villas.    

"Harrah's is a world premier destination resort developer and operator, which is precisely why we chose them as our partner for this casino development," said Nancy Seitz of Sumner Gaming. "Harrah's is the most successful company in the industry and they have a solid track record of being a good neighbor in the communities where they conduct business."

Harrah's Entertainment, Inc. is the world's largest provider of branded casino entertainment through operating subsidiaries. Since its beginning in Reno, Nevada nearly 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, Caesars and Horseshoe 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 about Harrah's, 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 words such 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. 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, actual performance 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: the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement between Harrah's and TPG Capital and Apollo Management; 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 merger disrupts current plans and operations and the potential difficulties in employee retention as a result of the merger by Harrah's; the impact of the substantial indebtedness to be incurred to finance the consummation of the merger by Harrah's; 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; access to available and reasonable financing on a timely basis; 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 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. Sumner and Harrah's each disclaim 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 news release.

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Source: Harrah's Entertainment, Inc.

CONTACT: Jacqueline Peterson of Harrah's Entertainment, +1-702-494-4829,
japeterson@harrahs.com; or Nancy Seitz of Sumner Gaming & Resorts,
+1-785-272-1398 ext. 130, NSeitz@mrvcompanies.com

Web site: http://www.harrahs.com/

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Profile: International Entertainment