Casino City Newsletter: Issue 348 Volume 7 Page 1

May 14 - May 20, 2007

Venetian renovating suites
Press Release

LAS VEGAS, Nev. – The Venetian Resort-Hotel-Casino, one of the world's premier destination resort casinos, announced that it is renovating more than 3,000 of its all-suite rooms. The $100-million renovation began in early 2007 and is expected to be completed by fall 2007.

The Venetian's Resort-Hotel-Casino and its Venezia Tower include more than 4,000 suites which are nearly twice the size of the average Las Vegas hotel room with a sunken living room, marble-adorned bath, and grand amenities travelers have come to expect of The Venetian brand. Designed by KNA Interior Design of Los Angeles, the renovation will update the 3,014 suites in The Venetian, and will welcome guests to a distinctly modern European design with contemporary touches throughout. The Venezia Tower's 1,013 suites, a "hotel within a hotel," opened in 2003 with the first concierge-level in Las Vegas and will not be updated as part of the renovation project.

"The Venetian is one of the most luxurious properties in Las Vegas. Exemplary service, dining, entertainment, shopping and extraordinary accommodations define the true Venetian experience," said Rob Goldstein, president and chief operating officer of The Venetian. "This renovation places us ahead of the curve in a highly competitive tourist destination. These suites set the standard for luxury hotel accommodations not only on the Las Vegas Strip but in the world."

Modern touches exclusive to The Venetian Resort-Hotel-Casino, such as new design, carpets, furniture, and fixtures, will include:

Three televisions: in the King suite -- 17" LCD in the bath, 32" in the living room, and 32" in the bedroom; in the Dual Queen suite -- 17" LCD in the bath, 32" in the living room, and 42" plasma in the bedroom.
Remote control Roman shades and curtains, with first-of-its-kind "Touch Control" technology.
Wireless dual-line telephones and wireless Internet connection.
Oversized plush 100% cotton bath sheets by Sobella.
DVD player and CD/clock radio alarm in all suites.
Sectional sleeper sofa for additional seating and a more relaxed guestroom.
Crisp white 100% Egyptian Cotton Anichini bed linens and medium-weight 100% white goose down duvets.
Soft angora wool throw placed on each bed by Maxwell Rodgers from New Zealand.
Sealy pillow-top mattresses with five comfort layers.
Fresh cut flower on all bathroom vanities.
Upgraded food and beverage amenities in the in-room minibar including Godiva chocolates, sugar-free jelly-belly's and Piper-Heidsieck champagne.
Luxurious upholstered walls located behind the headboards.
Backlit onyx tops at entertainment console provides a dramatic lighting effect.

WSOP revises payout schedule
Press release

LAS VEGAS, Nev. -- Most players who finish in the money in 2007 World Series of Poker events will receive a higher percentage of the prize pools than last year, WSOP officials said last week.

"We are increasing the return to players who, after hours or days of grueling competition, are able to reach the money," said Howard Greenbaum, regional vice president of specialty gaming for Harrah's Entertainment, Inc. (NYSE: HET). "Our goal is to keep more money circulating among more people in the poker community."

While the final payout schedule for each event depends on the final number of entrants, a comparison of the actual payouts for the 2006 Main Event with what they would have been under the new payout schedule illustrates the differences. Overall, 846 players last year would have won substantially more money - in some case, more than double - what they collected in 2006. The top 27 players would have received less, however.

For example, the 2006 Main Event would have paid $22,266 for 873rd through 775th places, up from $14,605 or $15,512. Places 82 through 73 would have paid $126,173, up from $66,010. First place would have paid $10,028,715, down from $12 million, while second place would have been worth $5,442,769, compared with $6,105,900.

"We discussed this concept with our poker operations team and with members of the WSOP Players Advisory Council and the consensus was that spreading the wealth is the right thing to do," said Greenbaum. "The new schedules are designed to increase the rewards to players who finish in the money but don't reach the final table."

The new payout schedules are posted at WorldSeriesOfPoker.com and indicate the percentage payouts for different numbers of players for different games.

The 2007 World Series of Poker Presented by Milwaukee's Best Light will begin June 1 at the Rio® All-Suite Hotel & Casino in Las Vegas. More information on the tournament is available at WorldSeriesOfPoker.com.

The WSOP is operated by a subsidiary of Harrah's Entertainment, Inc. Harrah's is the world's largest provider of branded casino entertainment through its operating subsidiaries. Since its beginning in Reno, Nevada, nearly 70 years ago, Harrah's has grown through development of new properties, expansions and acquisitions, and now owns or manages casinos on four continents. The company's properties operate primarily under the Harrah's®, Caesars® and Horseshoe® brand names; Harrah's also owns the London Clubs International family of casinos. 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.