858339--3/9/2010--HARRAHS_ENTERTAINMENT

related topics

{debt, indebtedness, cash}

{operation, natural, condition}

{personnel, key, retain}

{cost, operation, labor}

{condition, economic, financial}

{regulation, change, law}

{financial, litigation, operation}

{stock, price, operating}

{operation, international, foreign}

{competitive, industry, competition}

{acquisition, growth, future}

If we are unable to effectively compete against our competitors, our profits will decline. We are subject to extensive governmental regulation and taxation policies, the enforcement of which could adversely impact our business, financial condition and results of operations. The development and construction of new hotels, casinos and gaming venues and the expansion of existing ones are susceptible to delays, cost overruns and other uncertainties, which could have an adverse effect on our business, financial condition and results of operations. The recent downturn in the national economy, the volatility and disruption of the capital and credit markets and adverse changes in the global economy could negatively impact our financial performance and our ability to access financing. Acts of terrorism and war, natural disasters and severe weather may negatively impact our future profits. Work stoppages and other labor problems could negatively impact our future profits. We may not realize all of the anticipated benefits of current or potential future acquisitions. The risks associated with our international operations could reduce our profits. The loss of the services of key personnel could have a material adverse effect on our business. If we are unable to attract, retain and motivate employees, we may not be able to compete effectively and will not be able to expand our business. We are controlled by the Sponsors, whose interests may not be aligned with ours. We are or may become involved in legal proceedings that, if adversely adjudicated or settled, could impact our financial condition. Our debt agreements contain restrictions that limit our flexibility in operating our business. Our substantial indebtedness could adversely affect our ability to raise additional capital to fund our operations, limit our ability to react to changes in the economy or our industry and prevent us from making debt service payments. Despite our substantial indebtedness, we may still be able to incur significantly more debt. This could intensify the risks described above. We may not be able to generate sufficient cash to service all of our indebtedness, and may be forced to take other actions to satisfy our obligations under our indebtedness that may not be successful.

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858339--3/9/2010--HARRAHS_ENTERTAINMENT_INC