Caesars Entertainment Named Corporation of the Year by the Las Vegas Asian Chamber of Commerce.

LAS VEGAS -- In recognition of its continued support for the ethnic communities of Las Vegas, Caesars Entertainment (NYSE:CZR) has been named Corporation of the Year by the Las Vegas Asian Chamber of Commerce. Caesars Executive Vice President Steven F. Bell will accept the honor at the Asian Chamber of Commerce's Annual Chinese New Year gala on February 18.

"As a major employer in the city of Las Vegas, we know how important it is to take a leading role in promoting opportunity for all members of our community," said Caesars President and Chief Executive Officer Wallace R. Barr. "We are proud of the diversity initiatives we have implemented in the past few years and we are deeply honored to be recognized by the Asian Chamber as the Corporation of the Year," Barr added.

"We are pleased to announce our selection of Caesars Entertainment for the Corporation of the Year Award," said James Yu, president of the Asian Chamber of Commerce. "Caesars' commitment to the economic vitality of our community through its supplier diversity program is to be commended. Caesars' continued support of our chamber and its scholarship foundation has allowed us to provide for the educational goals of local students."

In an effort to make it easier for minority and women-owned businesses to work with the company, Caesars Entertainment last year launched a new website www.caesarsdiversity.com that enables these vendors to communicate quickly and directly with senior Caesars Entertainment procurement officials through a convenient, one-stop process. This is one of many initiatives made by the company in the last few years to increase the participation of minority and women-owned vendors.

About Caesars Entertainment

Caesars Entertainment, Inc. (NYSE:CZR) is one of the world's leading gaming companies. With annual revenue of $4.2 billion, 27 properties on four continents, 26,000 hotel rooms, two million square feet of casino space and 50,000 employees, the Caesars portfolio is among the strongest in the industry. Caesars casino resorts operate under the Caesars, Bally's, Flamingo, Grand Casinos, Hilton and Paris brand names. The company has its corporate headquarters in Las Vegas.

The company's Board of Directors in July 2004 accepted an offer from Harrah's Entertainment, Inc. to acquire the company for approximately $1.9 billion in cash and 67.7 million shares of Harrah's common stock. Shareholders of both companies are scheduled to vote on the merger in separate meetings on March 11. The transaction is contingent on approval by federal and state regulatory agencies and is expected to close in the second quarter of 2005.

Additional information on Caesars Entertainment can be accessed through the company's web site at www.caesars.com.

About the Asian Chamber of Commerce

Established in 1986, the Asian Chamber of Commerce (ACC), formerly known as the Pacific and Asian American Chamber of Commerce of Nevada, was formed to serve and represent the professional business interests of Nevada's growing Asian American community. ACC, a not-for-profit corporation, was founded with the primary goal of economic growth for its membership while also becoming a major forum and significant economic force in bringing about business, social and economic parity for Nevada's Asian Pacific American community.