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Harrah's Entertainment Eliminates Energy Surcharge10 December 2001LAS VEGAS--(Press Release)--Dec. 10, 2001-- Harrah's Entertainment Inc. (NYSE:HET) today announced that, effective immediately, it has eliminated the temporary energy surcharge implemented at its Harrah's and Rio properties in Nevada last April. The $3-per-room surcharge was announced in response to a doubling of natural gas prices and rising electricity prices during the 12 months leading up to last April. ``As we said at that time, we continued to evaluate the need to keep the surcharge in place and expressed the hope that it would be a short-term solution to rising energy costs,'' said Carlos Tolosa, Harrah's Entertainment Western Division president. ``We are pleased that the recent decline in energy prices has enabled us to remove the surcharge. ``We hope energy prices remain low so we won't have to reinstate the surcharge,'' Tolosa said. ``However, we will continue to monitor electricity prices closely because our supplier, Nevada Power Company, has requested a large rate increase.'' Founded more than 60 years ago, 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. With a combined database of more than 24 million players, 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 technology leadership. |