Harrah's Gains Ground with New Jersey Governor

5 Feb 2004

NEW JERSEY – As reported by the Press of Atlantic City: "The political news was better than the financial news for Atlantic City's No. 3 casino operator on Wednesday.

"The chief executive of Harrah's Entertainment spoke of an improving relationship with New Jersey Gov. James E. McGreevey while his company reported a combined 3 percent decline in fourth-quarter cash flow at Harrah's Atlantic City and Showboat.

"The downturn was expected, as Harrah's fights the new Borgata Hotel Casino & Spa. Hopeful words regarding the governor were not, as the industry has been battling proposed gaming taxes and proposed racetrack slots since McGreevey took office two years ago.

"'I think we're forging a relationship between the governor, his staff and members of the industry that is far more productive than the very isolated and polarized message we engaged each other with last year,' Loveman said on an earnings conference call…"

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	Harrah's Gains Ground with New Jersey Governor 5 Feb 2004 NEW JERSEY – As reported by the Press of Atlantic City: "The political news was better than the financial news for Atlantic City's No. 3 casino operator on Wednesday. "The chief executive of Harrah's Entertainment spoke of an improving relationship with New Jersey Gov. James E. McGreevey while his company reported a combined 3 percent decline in fourth-quarter cash flow at Harrah's Atlantic City and Showboat. "The downturn was expected, as Harrah's fights the new Borgata Hotel Casino & Spa. Hopeful words regarding the governor were not, as the industry has been battling proposed gaming taxes and proposed racetrack slots since McGreevey took office two years ago. "'I think we're forging a relationship between the governor, his staff and members of the industry that is far more productive than the very isolated and polarized message we engaged each other with last year,' Loveman said on an earnings conference call…"

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Harrah's Gains Ground with New Jersey Governor