Company Press Release: Harrah's Entertainment, Inc.
LAS VEGAS, Jan. 18 /PRNewswire/ -- Harrah's Entertainment, Inc. (NYSE: HET) continues to rank among America's corporate
elite, according to Forbes magazine. In the leading business publication's recently issued Forbes Platinum List
(January 10), Harrah's Entertainment is the only casino company included in its list of the 400 best-performing
big companies in the United States. For two consecutive years, Harrah's has been the lone casino company to appear
on the Platinum List.
Harrah's is among 17 corporations to appear in the Platinum List's Entertainment and Information category. Others
in the group included Time Warner, Gannett, Marriott International and the New York Times.
Forbes began with Market Guide's database of over 1,600 companies with sales of at least $750 million. In choosing
which firms would qualify for the Platinum 400, the magazine used return on capital over both the past five years
and past 12 months as the primary ranking measure. The scoring system used by Forbes considered the performance
of each company when compared to other companies in its industry, in addition to each company's absolute performance
in growth and profitability. By looking at companies over a five-year span, the editors were able to create a Platinum
400 List of proven overall performers. Forbes also evaluated firms according to a number of other benchmarks, including
sales growth, net income growth and growth in cash flow per share.
``We are pleased to be selected by Forbes as a Platinum 400 company, along with so many other well-regarded firms,''
said Phil Satre, Harrah's Entertainment Chairman, President and Chief Executive Officer. ``This recognition reflects
our success in building a world-class organization and creating a consumer brand supported by excellence in technology
and service. I am confident in our ability to continue to grow and improve our performance.''
In addition to being listed in the Forbes Platinum 400, Harrah's was recently listed among the Top 500 Most Innovative
Companies by InformationWeek Magazine.
Harrah's Entertainment, Inc. is the most recognized and respected name in the casino entertainment industry, operating
20 casinos under the Harrah's, Showboat and Rio brand names. Founded more than 60 years ago, Harrah's is focused
on building loyalty and value with its target customers through a unique combination of great service, excellent
products, unsurpassed distribution, operational excellence and technology leadership. The company recently relocated
its corporate headquarters to Las Vegas, Nevada, from Memphis, Tennessee.
SOURCE: Harrah's Entertainment, Inc.