Harrah's Entertainment, Boyd Gaming Announce Agreement
for Boyd to Acquire Harrah's Shreveport for $190 Million

LAS VEGAS, Jan. 20, 2004 -- Harrah's Entertainment, Inc. (NYSE: HET) and Boyd Gaming Corporation (NYSE: BYD) jointly announced today
they have signed a definitive agreement for Harrah's to sell its Shreveport
hotel-casino to Boyd Gaming for $190 million, subject to regulatory approval.

     In its September 11, 2003, announcement of an agreement to acquire
Horseshoe Gaming Holding Corp., Harrah's said it would sell Harrah's
Shreveport to avoid overexposure in that market.  Horseshoe Gaming operates a casino facility in Shreveport-Bossier City, and Harrah's owns the Louisiana Downs thoroughbred horseracing track in Bossier City.

    Harrah's Shreveport includes a 514-room hotel and convention center and
more than 23,000 square feet of casino space featuring 1,224 slot machines,
32 table games and four restaurants. "We are extremely pleased that Boyd Gaming, which has a richly deserved reputation for superior treatment of its employees and guests, is taking over an operation that has been a part of the Harrah's family since 1994," said Gary Loveman, Harrah's Entertainment President and Chief Executive Officer.

"In addition to being one of the industry's top operators, Boyd Gaming
believes strongly in good corporate citizenship wherever it operates. Bill Boyd, Chairman and Chief Executive Officer of Boyd Gaming, said, "We
are very excited about adding the Shreveport operation to our family of
properties, and what will be our third in Louisiana.  We are very familiar
with the area and look forward to getting to know the surrounding communities on a more personal level."

    Headquartered in Las Vegas, Boyd Gaming Corporation (NYSE: BYD) is a leading diversified owner and operator of 13 gaming properties located in
Nevada, New Jersey, Mississippi, Illinois, Indiana and Louisiana.  Boyd Gaming recently opened Borgata Hotel, Casino, and Spa at Renaissance Pointe (AOL keyword: borgata or www.theborgata.com ), a $1.1 billion entertainment destination in Atlantic City, through a joint venture with MGM MIRAGE.  Boyd Gaming press releases are available at www.prnewswire.com  Additional news and information on Boyd Gaming can be found at www.boydgaming.com 

    Founded 66 years ago, Harrah's Entertainment, Inc. owns or manages through various subsidiaries 25 casinos in the United States, primarily under the Harrah's brand name.  Harrah's Entertainment is focused on building loyalty and value with its valued 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 www.harrahs.com