Juliano Resigns As President of Caesars Palace - Tuesday 12th of July 2005

Harrahs Entertainment, Inc. (NYSE: HET - News) announced today that Mark Juliano has resigned as President of Caesars Palace, effective July 31.

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"Mark has made a singular contribution to Caesars Palace during his two-year tenure as its president," said Tom Jenkin, Harrahs Western Division president. "He put together a strong leadership team and successfully led the property through a period of major expansion and refurbishment. I am personally grateful for his support during the successful merger of Harrahs Entertainment and Caesars Entertainment. He is a noted industry leader who has made a personal and professional decision to return to the East Coast. We wish him and his family all the best."

"The hardest part about leaving Caesars Palace will be saying goodbye to the great people who work there; they have been like a family to me," said Juliano, who has served as the resorts president since February 2003.

Gary Selesner, the resorts Senior Vice President and General Manager, will serve as interim president during the companys search for Julianos replacement.

Harrahs Entertainment, Inc., is the worlds largest provider of branded casino entertainment. Since its beginning in Reno, Nevada 67 years ago, Harrahs has grown through development of new properties, expansions and acquisitions. On June 13, 2005, Harrahs Entertainment acquired Caesars Entertainment, Inc., and now owns or manages through various subsidiaries more than 40 casinos in three countries, primarily under the Harrahs, Caesars and Horseshoe brand names. With nearly 4 million square feet of casino space, more than 40,000 hotel rooms and nearly 100,000 employees, the Harrahs portfolio is the most diverse in the gaming industry. Harrahs 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.

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, strategies, future performance, future financial results of Harrahs Entertainment, Inc. 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 or results of Harrahs 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 "Managements Discussion and Analysis of Financial Condition and Results of Operations" contained therein): financial community and rating agency perceptions of Harrahs; the effects of economic, credit and capital market conditions on the economy in general, and on gaming and hotel companies in particular; construction factors, including delays, 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; the ability to timely and cost-effectively integrate into Harrahs operations the companies that it acquires, access to available and feasible 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 of our customer-tracking, customer loyalty and yield-management programs to continue to increase customer loyalty and same store sales; our ability to recoup costs of capital investments through higher revenues; acts of war or terrorist incidents; 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. Harrahs 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.

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