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Harrah’s and Caesars Stockholders Approve Merger

Harrah’s Entertainment and Caesars Entertainment, announced today that stockholders of both companies separately approved an agreement to merge Caesars Entertainment into Harrah’s Operating Company, a wholly owned subsidiary of Harrah’s Entertainment.Harrah’s stockholders also approved an increase in the number of authorized shares of Harrah’s common stock from 360 million to 720 million.

The merger remains subject to customary closing conditions, including receipt of required regulatory approvals. The companies expect the transaction to close during the second quarter of 2005.