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Harrah's Entertainment, Inc. (Harrah's) announced today that it has established a new subsidiary, Harrah's Interactive Entertainment, Inc. (HIE) to manage the global growth of the World Series of Poker® (WSOP) and explore a European interactive strategy.
"As the world's largest gaming company, Harrah's is taking a proactive approach toward international and interactive expansion," said Harrah's Entertainment Chairman, President and Chief Executive Officer Gary Loveman. "It is important we position ourselves to explore new markets as well as new technologies with our best in class brands."
Mitch Garber, a longtime gaming lawyer and public company senior executive, joins HIE as CEO. Jeffrey Pollack, Commissioner of the WSOP, remains in that role and will become President of HIE.
In addition to growing the World Series of Poker, HIE will explore the use of interactive gaming technologies to expand the reach of Harrah's brands globally, starting in Europe. With its renowned Total Rewards customer-loyalty program, HIE will be utilized to develop new opportunities to strengthen and grow Harrah's customer base.
The World Series of Poker, in its 40th year, has experienced record growth in the last five years. Participants from 124 nations competed in last year's tournament, up from 24 just five years ago and entrants have gone from 13,036 to 58,720 during the same span. The WSOP expanded into Europe in 2007 with the creation of the World Series of Poker Europe® held each fall in London.
HARRAH'S ENTERTAINMENT, INC.
Harrah's Entertainment, Inc. is the world's largest provider of branded casino entertainment. Since its beginning in Reno, Nevada, more than 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 and the World Series of Poker®. 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. For more information, please visit www.harrahs.com.
ABOUT THE WSOP
The World Series of Poker (WSOP) is the largest, richest and most prestigious gaming event in the world awarding millions of dollars in prize money and the prestigious gold bracelet, globally recognized as the sport's top prize. Featuring a comprehensive slate of tournaments in every major poker variation, the WSOP is poker's longest running tournament in the world, dating back to 1970. In 2008, the event attracted 58,720 entrants from 124 different countries to the Rio in Las Vegas and awarded over $180 million in prize money. The creation of the new delayed Main Event final table more than doubled ratings on ESPN year-over-year. In December, 2008 the WSOP was named the 7th most admired sports brand in North America by Turnkey Sports Survey, trailing only the more established NFL, MLB, NBA, NHL, NASCAR and PGA Tour among sports properties. In addition, the WSOP has formed groundbreaking alliances in broadcasting, digital media and corporate sponsorships, while successfully expanding the brand internationally with the advent in 2007 of the World Series of Poker Europe. For more information on the World Series of Poker, please visit our website at www.worldseriesofpoker.com.
