Harrahs and Boyd Announce Agreement

Harrah`s Entertainment, Inc. and Boyd Gaming Corporation jointly announced
today they have signed a definitive agreement for Harrah`s to sell its
Shreveport hotel-casino to Boyd Gaming for $190 million, subject to
regulatory approval.

In its September 11, 2003, announcement of an agreement to acquire
Horseshoe Gaming Holding Corp., Harrah`s said it would sell Harrah`s
Shreveport to avoid overexposure in that market. Horseshoe Gaming operates
a casino facility in Shreveport-Bossier City, and Harrah`s owns the
Louisiana Downs thoroughbred horseracing track in Bossier City.

Harrah`s Shreveport includes a 514-room hotel and convention center and
more than 23,000 square feet of casino space featuring 1,224 slot
machines, 32 table games and four restaurants.

“We are extremely pleased that Boyd Gaming, which has a richly deserved
reputation for superior treatment of its employees and guests, is taking
over an operation that has been a part of the Harrah`s family since 1994,”
said Gary Loveman, Harrah`s Entertainment President and Chief Executive
Officer. “In addition to being one of the industry`s top operators, Boyd
Gaming believes strongly in good corporate citizenship wherever it
operates.”
Bill Boyd, Chairman and Chief Executive Officer of Boyd Gaming, said, “We
are very excited about adding the Shreveport operation to our family of
properties, and what will be our third in Louisiana. We are very familiar
with the area and look forward to getting to know the surrounding
communities on a more personal level.”

Headquartered in Las Vegas, Boyd Gaming Corporation is a leading
diversified owner and operator of 13 gaming properties located in Nevada,
New Jersey, Mississippi, Illinois, Indiana and Louisiana. Boyd Gaming
recently opened Borgata Hotel, Casino, and Spa at Renaissance Pointe (AOL
keyword: borgata or http://www.theborgata.com/ ), a $1.1 billion
entertainment destination in Atlantic City, through a joint venture with
MGM MIRAGE. Boyd Gaming press releases are available at
http://www.prnewswire.com/ . Additional news and information on Boyd
Gaming can be found at http://www.boydgaming.com/ .

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Founded 66 years ago, Harrah`s Entertainment, Inc. owns or manages through
various subsidiaries 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 leadership.

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