Harrah’s Entertainment, Inc.
announced plans to rebrand Bluffs Run Casino under the Horseshoe brand as
part of an $85 million renovation and expansion of the Iowa property. The project marks the first time Harrah’s will be expanding the Horseshoe
brand beyond the three Horseshoe casinos in Indiana, Mississippi and
Louisiana that were acquired in the purchase of Horseshoe Gaming Holding
Corp. earlier this year.

“The Horseshoe brand represents the finest in casino entertainment for
avid gamblers,” said Gary Loveman, Harrah’s president and chief executive
officer. “Horseshoe Council Bluffs will provide an exciting gaming
experience without parallel in the Omaha metropolitan area, and provide an
effective complement to Harrah’s Council Bluffs. We are optimistic about
the Horseshoe brand’s potential in this market, and will actively examine
additional opportunities to use this brand across the country and the
world.”

Horseshoe Council Bluffs will be the largest casino in the Council Bluffs
market, with 69 percent more gaming space than the existing casino. In
keeping with Horseshoe’s reputation for high-quality table-game products,
36 table games and a 20-table poker room will be added to the casino.

The new 68,000-square-foot casino will offer an additional 250 slot
machines, bringing the casino’s total to 2,376. Harrah’s also plans to add
a new parking garage and entertainment venue. The property’s greyhound
racetrack will remain in operation, and retain the Bluffs Run brand.

Pending regulatory approval, construction is slated to begin in February,
with completion scheduled for the first quarter of 2006.

“Iowa’s stable regulatory and tax environment played a crucial role in our
decision to make this significant investment in Council Bluffs,” Loveman
said.
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