Harrah's Licenses World Series of Poker Brand to WMS Gaming for Slot

    Business Editors/Gambling Writers

    LAS VEGAS & WAUKEGAN, Ill.--(BUSINESS WIRE)--April 26, 2005--Harrah's License Company, LLC, an affiliate of Harrah's Entertainment, Inc. (NYSE:HET) and WMS Gaming Inc., a wholly owned subsidiary of WMS Industries Inc. (NYSE:WMS), today jointly announced that Harrah's has licensed the popular World Series of Poker(R) brand to WMS Gaming for the development, manufacture and deployment of video poker and slot machine game themes on WMS' Bluebird(R) gaming devices in North American and Caribbean markets.
    Pursuant to the exclusive licensing agreement, WMS will develop several unique game themes using the World Series of Poker brand, the first of which is expected to be placed at Harrah's casinos following receipt of regulatory approvals, which are anticipated in the third quarter.
    Under the terms of the agreement, World Series of Poker branded games will initially be available solely at Harrah's properties during an exclusivity period in each jurisdiction in which Harrah's or its affiliates operate. Once the exclusivity timeframe in a jurisdiction expires, each game theme will be available for placement at other casinos in those markets. The agreement, which calls for the installation of a specified number of World Series of Poker branded gaming devices in Harrah's casinos, is for a period of three years with an optional two-year extension.
    Since 1970, the World Series of Poker has been recognized as the world's largest, richest and most prestigious gaming tournament, with event winners being crowned the World Champion of Poker. The six-week World Series of Poker series of tournaments offers poker fans competition in a variety of poker games including Lowball, Seven-Card Stud and Omaha. In 2004, more than 2,500 amateur and professional players entered the event's most popular tournament - the $10,000 buy-in, No Limit Hold 'Em World Championship. The winner, Greg Raymer, received $5 million.
    The 36th Annual World Series of Poker at Harrah's Rio All Suite Hotel and Casino in Las Vegas, June 2nd - July 15th, is expected to draw an even larger field of entrants than the 2004 event.
    "With the growing popularity and resurgence of tournaments and live poker games, this new agreement provides a logical extension of our valued brand to the casino floor," said Ken Weil, Harrah's Senior Vice President of Slots. "We selected WMS due to its strong reputation for creating great games, and the company has already presented us with several exciting game concepts that we are confident will accurately represent and extend the World Series of Poker brand. We have previously worked with WMS on several joint marketing opportunities and look forward to furthering our relationship with this new agreement."
    "Harrah's has done a remarkable job of managing the already significant awareness of this popular brand, which is instantly recognized around the world by both poker players and non-players alike," said Brian Gamache, President and CEO of WMS Industries. "Our game developers are very excited to be working with this phenomenal brand and we are confident that their unique talents will lead to the creation of highly entertaining games that capture the excitement of the World Series of Poker. We believe the combination of this famous brand, our great content, and our award-winning Bluebird gaming platform will help accelerate our market share on the slot floor and also result in an exciting experience for players and higher earnings for our casino customers."
    "Harrah's is committed to introduce the excitement and entertainment value of the World Series of Poker brand to guests - poker players and non-players alike - throughout our property portfolio," said Ginny Shanks, Harrah's Senior Vice President of Acquisition Marketing. "We're very pleased to be working with WMS Gaming to provide customers on our casino floors with new World Series of Poker branded gaming experiences."
    World Series of Poker is a registered trademark of Harrah's License Company, LLC. All rights reserved.
    Bluebird is a registered trademark of WMS Gaming Inc. All rights reserved.
    WMS Gaming Inc., a subsidiary of WMS Industries Inc., designs, manufactures and markets video and reel-spinning gaming devices and video lottery terminals. WMS Gaming is headquartered in Waukegan, IL with regional offices in all major domestic gaming jurisdictions, as well as Barcelona, Spain, London, England, Johannesburg, South Africa and Sydney, Australia.

    This press release contains forward-looking statements concerning WMS' future business performance, strategy, outlook, plans, liquidity, pending regulatory matters and outcomes of contingencies including legal proceedings, among others. Forward-looking statements may be typically identified by such words as "may," "will," "should," "expect," "anticipate," "seek," "believe," "estimate," and "intend," among others. These forward-looking statements are subject to risks and uncertainties that could cause WMS' actual results to differ materially from the expectations expressed in the forward-looking statements. Although WMS believes that the expectations reflected in its forward-looking statements are reasonable, any or all of its forward-looking statements may prove to be incorrect. Consequently, no forward-looking statements may be guaranteed. Factors which could cause WMS' actual results to differ from expectations include (1) delay or refusal by regulators to approve WMS' new gaming platforms, cabinet designs, game themes and related hardware and software, (2) a failure to obtain and maintain WMS' gaming licenses and regulatory approvals, (3) an inability to introduce in a timely manner new games and gaming machines that achieve and maintain market acceptance, (4) a software anomaly or fraudulent manipulation of WMS' gaming machines and software, (5) a failure to obtain the right to use, or an inability to adapt to rapid development of new technologies, and (6) an infringement claim seeking to restrict WMS' use of material technologies. These factors and other factors that could cause actual results to differ from expectations are more fully described under "Item 1. Business-Risk Factors" in WMS' Annual Report on Form 10-K for the year ended June 30, 2004 and its more recent reports filed with the Securities and Exchange Commission.
    Various subsidiaries of Harrah's Entertainment, Inc. own or manage 25 casinos in the United States, primarily under the Harrah's and Horseshoe brand names. Founded 67 years ago, Harrah's Entertainment is focused on building loyalty and value with its valued customers through a unique combination of great service, products, unsurpassed distribution, operational excellence and technology leadership.
    Additional information about Harrah's Entertainment is available at www.harrahs.com.
    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 contain 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, strategies, future performance, future financial results of Harrah's and Caesars and Harrah's anticipated acquisition of Caesars. These forward-looking statements are based on current expectations and projections about future events.
    Investors are cautioned that forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that cannot be predicted or quantified and, consequently, the actual performance or results of Caesars and Harrah's 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 Harrah's reports filed with the Securities and Exchange Commission (including the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained therein): financial community and rating agency perceptions of Harrah's and Caesars, the effects 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; the effects of environmental and structural building conditions relating to our properties; the ability to timely and cost-effectively integrate into Harrah's operations the companies that it acquires, including with respect to its acquisition of Caesars; access to available and feasible financing, including financing for Harrah's acquisition of Caesars, on a timely basis; 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; the ability of Harrah's customer-tracking, customer loyalty and yield-management programs to continue to increase customer loyalty and same store sales; Harrah's 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. Harrah's and Caesars disclaim any obligation to update the forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date stated, or if no date is stated, as of the date of this press release.

--30--JM/ny*

CONTACT: Harrah's Entertainment, Inc. Investors Brad Belhouse, 702-407-6367 bbelhouse@harrahs.com or Media David Strow, 702-407-6530 dstrow@harrahs.com or WMS Industries Inc. Scott D. Schweinfurth, 847-785-3760 sschweinfurth@wmsgaming.com or Jaffoni & Collins Incorporated Joseph N. Jaffoni, Richard Land, 212-835-8500 wms@jcir.com

KEYWORD: NEVADA ILLINOIS INDUSTRY KEYWORD: ENTERTAINMENT GAMING MARKETING AGREEMENTS SOURCE: Harrah's Entertainment, Inc. and WMS Industries Inc.

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