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HARRAH'S EXPRESSES DISAPPOINTMENT IN LOUISIANA CASINO LICENSE DECISION/REBID IN DOUBT HARRAH'S CONTINUES FOCUS ON GROWTH AND NATIONAL BRAND STRATEGY

 NEW ORLEANS, July 21, /PRNewswire/ -- Harrah's, the casino entertainment division of The Promus Companies Incorporated (NYSE:PRI), today expressed disappointment in the Louisiana Economic Development and Gaming Corporation's (EDGC) decision to reject the bids of both Harrah's and the other bid finalist to receive the state's only casino license for a land-based casino in New Orleans. Harrah's had filed a bid for the license with a group of Louisiana businessmen known as New Orleans Louisiana Development Corporation. The EDGC indicated it would immediately issue new requests for bid.
 "Harrah's is aggressively pursuing a national brand strategy and has more new projects underway in new markets than any other casino company," said Philip G. Satre, president and chief operating officer of Promus. "The New Orleans opportunity is just one of many that the company is pursuing in establishing its reputation as the premier casino entertainment company and the country's most recognized and only true national casino brand. Harrah's will continue to pursue opportunities that we feel add value to our brand name strategy and are beneficial to our shareholders. In light of these events today and our other opportunities, it remains to be determined whether we will rebid for the land-based casino in New Orleans."
 Harrah's is the only casino company operating in all five major Nevada and New Jersey casino markets -- Atlantic City, N.J., Lake Tahoe, Laughlin, Las Vegas and Reno, Nev. Harrah's first riverboat casino opened in May 1993 in Joliet, Ill. Additional casino entertainment projects in Vicksburg and Tunica, Miss., North Kansas City, and Maryland Heights (St. Louis), Mo., Shreveport, La., and Central City, Colo., have announced by Harrah's.
 Harrah's parent company, Promus, also owns and operates three leading hotel brands: Embassy Suites, Hampton Inn and Homewood Suites hotels.
 -0- 7/21/93
 /CONTACT: Beth Rooks of Harrah's, 901-762-8916, or Ralph Berry of The Promus Companies, 901-762-8629/
 (PRI)


CO: Harrah's; The Promus Companies Incorporated ST: Louisiana, Tennessee IN: CNO SU:

MM -- CH006 -- 3814 07/21/93 09:36 EDT
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Publication:PR Newswire
Date:Jul 21, 1993
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