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Harrah's extends deal with Loveman

LAS VEGAS, Nevada -- (PRESS RELEASE) -- Harrah's Entertainment, Inc. (NYSE: HET) announced today it has extended the existing employment agreement with Gary Loveman, the company's chairman, chief executive officer and president.

Loveman is expected to remain in those positions following completion of the merger of Harrah's with affiliates of TPG and Apollo Management, L.P., which is expected to occur in early 2008.

Harrah's Entertainment, Inc. is the world's largest provider of branded casino entertainment. 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, please visit Harrahs.com.

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