[StBernard] Harrah's To Sell Grand Casino Gulfport Assets To Gulfside Casino Partnership

[Westley Annis]

Harrah's Entertainment, Inc. announced it has signed a definitive agreement
to sell the assets of Grand Casino Gulfport to Gulfside Casino Partnership,
subject to the receipt of required regulatory approvals. 

Las Vegas, NV (PRWEB) December 29, 2005 -- Harrah's Entertainment, Inc.
(NYSE:HET) announced it has signed a definitive agreement to sell the assets
of Grand Casino Gulfport to Gulfside Casino Partnership, subject to the
receipt of required regulatory approvals. The purchase price was not
disclosed.

The agreement calls for the assets to be sold in an "as is" condition.
Harrah's will retain all insurance proceeds. The transaction is expected to
close by the end of the first quarter of 2006.

"We are fully committed to this state, and are excited about the opportunity
to design and develop a first-class resort at our Biloxi site that will
complement our substantial entertainment offerings in northwest
Mississippi," said Anthony Sanfilippo, president of Harrah's Central
Division. "And by selling these assets to our neighbors in Gulfport, we will
give the owners of the Copa Casino site the additional space they need to
develop an ambitious project of their own. This agreement is a significant
step toward the rebuilding of the Mississippi Gulf Coast."

Harrah's Entertainment, Inc. is the world's largest provider of branded
casino entertainment. Since its beginning in Reno, Nevada 68 years ago,
Harrah's has grown through development of new properties, expansions and
acquisitions. Harrah's Entertainment is focused on building loyalty and
value with its customers through a unique combination of great service,
excellent products, unsurpassed distribution, operational excellence and
technology leadership.

More information about Harrah's is available at its Web site -
www.harrahs.com.

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