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Harrah's Entertainment Increases Quarterly Cash Dividend

LAS VEGAS, Nevada -- (PRESS RELEASE) -- The board of directors of Harrah's Entertainment, Inc. (NYSE:HET) today increased the regular quarterly cash dividend 10.3 percent, to $0.40 per share.

The next quarterly dividend will be payable August 23, 2006, to stockholders of record as of the close of business on August 9, 2006. The shares will begin to trade ex-dividend on August 7, 2006.

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