Harrah's To Operate Las Vegas Property, Host World Series Of Poker

LAS VEGAS and CHESTER, WEST VIRGINIA - March 11, 2004 - Speakeasy Gaming of Fremont, Inc., a wholly owned subsidiary of MTR Gaming Group, Inc. (Nasdaq NMS:MNTG), today completed the purchase of Binion's Horseshoe Hotel & Casino in downtown Las Vegas.

In conjunction with the MTR transaction, Harrah's Entertainment, Inc. (NYSE:HET) acquired rights to the Horseshoe brand in Nevada and to the World Series of Poker, the largest poker tournament in gaming. MTR and Harrah's have received regulatory approvals for joint operation of the legendary downtown Las Vegas property.

Binion's Horseshoe is expected to reopen on or about April 1 and to host the 35th annual World Series of Poker beginning April 22. Former Binion's employees have been sent a letter inviting them to call 702-382-1600, Extension 7329, to schedule job interviews beginning March 10.

Harrah's will serve as the primary day-to-day operator of the property on an interim basis, subject to certain oversight and review by a joint committee of Harrah's and MTR. The joint operating agreement will have an initial term of one year - which Harrah's may extend for up to an additional two years - during which MTR will receive certain guaranteed payments.

MTR Gaming Group, Inc., through subsidiaries, owns and operates the Mountaineer Race Track & Gaming Resort in Chester, West Virginia, Scioto Downs in Columbus, Ohio, the Ramada Inn and Speedway Casino in North Las Vegas, Nevada, Binion's Horseshoe in Las Vegas, Nevada, and holds a license to build Presque Isle Downs, a thoroughbred racetrack with pari-mutuel racing in Erie, Pennsylvania. The Mountaineer facility currently encompasses a thoroughbred racetrack with off-track betting and export simulcasting, 3,200 slot machines, 359 hotel rooms, golf course, spa & fitness center, theater and events center, convention center and fine dining and entertainment. MTR is included on the Russell 2000(R) and Russell(R) 3000 Indexes. For more information, please visit www.mtrgaming.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 target customers through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership.

More information about Harrah's Entertainment is available on the company's Web site, www.harrahs.com.