News Details

RENO, Nev., Oct 13, 2003 /PRNewswire-FirstCall via COMTEX/ -- Harrah's Entertainment, Inc. (NYSE: HET) has agreed to purchase a minimum of 11,000 new coinless-capable gaming machines from International Game Technology (NYSE: IGT) to expedite the introduction of Fast Cash(TM), the Harrah's-branded ticket-out, ticket-in coinless system being rolled out to its casinos across the country.

"This deal is one of the largest orders, if not the largest single order, IGT has ever received and is of historical significance for both companies," said G. Thomas Baker, IGT Chief Executive Officer. "This deal represents approximately 75 percent of Harrah's expected slot purchases over the next year. With this order we are on track to achieve a new target of 60,000 to 65,000 domestic replacement machine sales for fiscal year 2004."

"This purchase agreement will help us move even more quickly to introduce our Fast Cash(TM) system and provide our customers nationwide with their favorite new games in a convenient coinless environment," said Gary Loveman, Harrah's President and Chief Executive Officer.

The new machines will be purchased and installed as quickly as possible as part of the deployment of Harrah's Fast Cash(TM) coinless-gaming initiative at Harrah's properties. Harrah's recently announced an agreement with Alliance Gaming (NYSE: AGI) to use its eTicket(TM)* system, which Harrah's brands as Fast Cash(TM) and which will be integrated into the games purchased from IGT. Harrah's has already begun implementing Alliance's ticket-out/ticket-in coinless systems at Harrah's owned and operated properties on existing machines.

"Our company is all about great customer service," said John Boushy, Harrah's Senior Vice President, Operations, Products & Services and Information Technology. "The new IGT machines working with Fast Cash(TM) will give us the capability to take our customer service to an even higher level. By eliminating wait times for change and hopper fills, coinless gaming will offer our customers unprecedented convenience."

Fast Cash(TM) is currently installed on more than 3,700 slot machines at nine Harrah's properties in five jurisdictions.

"Our coinless gaming plans are ambitious, with implementation of Fast Cash(TM) planned for more than 10,000 slots by year's end. Based on significant customer research and ongoing feedback, we are confident that our customers will embrace these new services and products," Boushy said.

IGT has one of the largest libraries of slots and video games and demonstrated its strength of game development at the recent Global Gaming Expo, where it debuted over 150 new titles and advancements in slot technology including a new selectable multi-denomination touch panel for its reel spinning slots.

"This is a significant step forward in the expansion of ticket-in, ticket-out technology nationally and we are extremely pleased that Harrah's Entertainment is using its Fast Cash(TM) technology on our games for the benefit of their customers and casinos," said Ward Chilton, Senior Vice President of North American sales for IGT.

IGT ( www.IGT.com ) is a world leader in the design, development and manufacture of microprocessor-based gaming and lottery products and software systems in all jurisdictions where gaming and lotteries are legal.

Statements in this release which are not historical facts are "forward looking" statements under the Private Securities Litigation Reform Act of 1995. Although IGT believes that the expectations reflected in any of its forward-looking statements are reasonable, actual results could differ materially from those projected or assumed. IGT's future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent known and unknown risks and uncertainties. IGT does not intend, and undertakes no obligation, to update forward-looking statements to reflect future events or circumstances.

Information on risks and factors that could affect IGT's business and financial results are included in our public filings made with the Securities and Exchange Commission.

Founded 65 years ago, Harrah's Entertainment, Inc. operates 26 casinos in the United States, primarily under the Harrah's brand name. Harrah's Entertainment 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. Additional information about Harrah's Entertainment is available at www.harrahs.com .

    * eTicket(TM) is a registered trade mark of Alliance Gaming, Inc.

This release includes "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate strictly to historical or current facts. These statements contains words such as "may," "will," "project," "might," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," "continue" or "pursue," or the negative or other variations thereof or comparable terminology. In particular, they include statements relating to, among other things, future actions, new projects, strategies, future performance, the outcome of contingencies such as legal proceedings and future financial results. We have based these forward-looking statements on our current expectations and projections about future events.

We caution the reader that forward-looking statements involve risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the following factors as well as other factors described from time to time in our reports filed with the Securities and Exchange Commission:

      * the effect of economic, credit and capital market conditions on the
        economy in general, and on gaming and hotel companies in particular;
      * construction factors, including delays, zoning issues, environmental
        restrictions, soil and water conditions, weather and other hazards,
        site access matters and building permit issues;
      * our ability to timely and cost effectively integrate into our
        operations the companies that we acquire;
      * access to available and feasible financing;
      * changes in laws (including increased tax rates), regulations or
        accounting standards, third-party relations and approvals, and
        decisions of courts, regulators and governmental bodies;
      * litigation outcomes and judicial actions, including gaming legislative
        action, referenda and taxation;
      * ability of our customer-tracking and yield-management programs to
        continue to increase customer loyalty;
      * our ability to recoup costs of capital investments through higher
        revenues;
      * acts of war or terrorist incidents;
      * abnormal gaming holds, and
      * the effects of competition, including locations of competitors and
        operating and market competition.

Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE IGT

Ed Rogich, VP Marketing, +1-702-896-8690, or Rich Baldwin,
Investor Relations, +1-775-448-0110, both of IGT; or media, Gary Thompson,
+1-702-407-6529, or investors, Brad Belhouse, +1-702-407-6367, both of
Harrah's Entertainment, Inc.

http://www.harrahs.com

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