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Massive bad beat jackpot hits in Atlantic City

26 August 2010

ATLANTIC CITY, New Jersey -- (PRESS RELEASE) -- Harrah's Entertainment Atlantic City just announced that at 11:16 a.m. this morning, its Total Bad Beat Jackpot of $535,459.60 hit at Caesars Atlantic City. In addition to the Caesars poker room, poker players at Harrah's Resort, Bally's and Showboat each received a payout of $2,705 as part of the new pooled jackpot.

"This is an unforgettable day for gaming in Atlantic City as in just two short days we are announcing the inaugural winners of our first-ever multi-casino Bad Beat Jackpot payout," said Don Marrandino, Eastern Division President of Harrah's Entertainment. "The combined $535,459.60 payout from Harrah's Resort, Caesars, Bally's and Showboat is one of the largest Bad Beat Jackpots in Atlantic City casino history and we look forward to continue to introduce new initiatives to Atlantic City and rewarding the loyal poker players of our four properties."

On Tuesday, August 24, 2010, Harrah's Entertainment Atlantic City introduced the City's first-ever multi-casino Texas Hold'em Poker Room Bad Beat Jackpot initiative, and a starting jackpot of $524,045. Poker Room Bad Beat Jackpots at Harrah's Resort, Caesars, Bally's and Showboat will now reflect one "Pooled" jackpot up for grabs.

Sheryl Wallace of Auburndale, Florida laid out what she thought was a winning hand of straight flush diamonds, only to experience a bad beat by Monmouth, New Jersey's own John Sweet, Jr., boasting royal flush diamonds and the win. Wallace's losing hand earned her $163,343 while Sweet's winning hand added $109,797 to his wallet.

The bad beat jackpot is a prize that is paid when a sufficiently strong hand is shown down and loses to an even stronger hand held by another player. The Bad beat jackpot is progressive, with $1.00 taken out of each pot to fund the jackpot (in addition to the regular rake). When a jackpot is won, it will be split among all players sitting at a Bad Beat eligible table and in all of the Harrah's Total Reward Poker rooms in Atlantic City at the time of the bad beat with the losing hand getting the largest share. On the heels of this Total Bad Beat Jackpot win, Harrah's Entertainment immediately administered the reset jackpot at $100,000.

Payouts of the Total Bad Beat Jackpot are as follows:

· 30% of the jackpot will be awarded to the Bad Beat hand (losing player);

· 20% of the jackpot will be awarded to the winner of the hand;

· The remainder of the jackpot will be awarded equally divided as shares among all of the seated players on any Bad Beat jackpot eligible game at all four (4) linked properties. The players mentioned above will also get a share in addition to the prize listed. All winners will receive a minimum of $100.00.

The minimum losing Bad Beat Hand will start at four (4) queens and each week, on Wednesday, the required hand will be lowered by one (1) four of a kind ranking hand until the required hand is four (4) deuces. When the jackpot is hit the required hand will revert back to four (4) queens and reset the next Wednesday. Example: if the jackpot is hit on a Monday the 4 Queens would only be in effect for 2 days.

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