PRNewswire-FirstCall LAS VEGAS Nov. 13 :
Harrah`s Entertainment, Inc. announced today that Christopher J. Williams,
Chairman and Chief Executive Officer of The Williams Capital Group, L.P.,
and Williams Capital Management, LLC, has been appointed to serve on the
Harrah`s Entertainment Board of Directors, subject to regulatory approvals.
“We are delighted to welcome Christopher Williams to our Board of
Directors,” said Phil Satre, Chairman of Harrah`s Entertainment. “His
extensive experience in investment banking and asset management, combined
with his dedication to community service, will be invaluable to this
company in the creation and execution of Harrah`s long-term growth
Williams Capital has been one of the 20 largest underwriters of investment
grade corporate debt in the United States in each of the last three years,
and was ranked the largest minority-owned investment bank in the country
by Black Enterprise magazine in June 2002. In 2002, Williams was named one
of the 50 most powerful Blacks in corporate America by Fortune magazine.
Williams serves as a director of The Partnership of New York City, the
National Association of Securities Professionals and the Securities
Industry Association. He also serves on the boards of several non-profit
organizations, including the National Dance Institute, WNYC Radio, and the
Alvin Ailey Dance Foundation.
Williams is one of nine outside directors on the 11-member Harrah`s board.
Satre and Gary Loveman, Harrah`s Entertainment President and Chief
Executive Officer, are the two company representatives on the board.
The Williams Capital Group, L.P. is a registered broker-dealer and NASD
member. Neither Harrah`s Entertainment nor any of its subsidiaries have
any investment or commercial banking relationship with Williams Capital.
Founded 66 years ago, Harrah`s Entertainment, Inc. operates 25 casinos in
the United States, primarily under the Harrah`s brand name. Harrah`s
Entertainment is focused on building loyalty and value with its valued
customers through a unique combination of great service, excellent
products, unsurpassed distribution, operational excellence and technology
Additional information about Harrah`s Entertainment is available at
This release includes “forward-looking statements” intended to qualify for
the safe harbor from liability established by the Private Securities
Litigation Reform Act of 1995. You can identify these statements by the
fact that they do not relate strictly to historical or current facts.
These statements contains words such as “may,” “will,” “project,” “might,”
“expect,” “believe,” “anticipate,” “intend,” “could,” “would,” “estimate,”
“continue” or “pursue,” or the negative or other variations thereof or
comparable terminology. In particular, they include statements relating
to, among other things, future actions, new projects, strategies, future
performance, the outcome of contingencies such as legal proceedings and
future financial results. We have based these forward-looking statements
on our current expectations and projections about future events.
We caution the reader that forward-looking statements involve risks and
uncertainties that cannot be predicted or quantified and, consequently,
actual results may differ materially from those expressed or implied by
such forward-looking statements. Such risks and uncertainties include, but
are not limited to, the following factors as well as other factors
described from time to time in our reports filed with the Securities and
* the effect of economic, credit and capital market conditions on the
economy in general, and on gaming and hotel companies in particular; *
construction factors, including delays, zoning issues, environmental
restrictions, soil and water conditions, weather and other hazards, site
access matters and building permit issues; * our ability to timely and
cost effectively integrate into our operations the companies that we
acquire; * access to available and feasible financing; * changes in laws
(including increased tax rates), regulations or accounting standards,
third-party relations and approvals, and decisions of courts, regulators
and governmental bodies; * litigation outcomes and judicial actions,
including gaming legislative action, referenda and taxation; * ability of
our customer-tracking and yield-management programs to continue to
increase customer loyalty; * our ability to recoup costs of capital
investments through higher revenues; * acts of war or terrorist incidents;
* abnormal gaming holds, and * the effects of competition, including
locations of competitors and operating and market competition.
Any forward-looking statements are made pursuant to the Private Securities
Litigation Reform Act of 1995 and, as such, speak only as of the date
made. We undertake no obligation to publicly update any forward-looking
statements, whether as a result of new information, future events or