New chips around the corner??

Harrah's Increases Commitment to Foyt and IRL With Rio Sponsorship Company; Brings Second Casino Brand Into Racing Legend's Stable

LAS VEGAS, Jan. 27 /PRNewswire/ -- Harrah's Casinos, title sponsor of the A.J. Foyt-owned No. 14 car, today heightened its investment in A.J. Foyt Enterprises and the Indy Racing League (IRL) by announcing that the Rio All-Suite Casino Resort will serve as title sponsor of a second Foyt-owned racecar in 2000. The Rio, consistently rated the best hotel in Las Vegas, is owned by Harrah's.

"By expanding our involvement with Foyt Racing, we are creating a marriage between America's premier names in casino entertainment and open-wheel racing," said Craig Hudson, Harrah's vice president of brand management. "Based on the outstanding success Harrah's Racing enjoyed during the 1999 season, we couldn't be happier to bring an additional casino brand into the IRL's most recognized racing team."

"We've seen the tremendous return Harrah's has received on its investment," said Cary A. Rehm, senior vice president and general manager of the Rio, "and it made perfect sense for the Rio to follow suit. Given the IRL's new television agreement with ABC, and the high-profile association we have with A.J. Foyt, this is a perfect opportunity to reinforce Rio's reputation as a winner."

Chilean driver Eliseo Salazar will drive the Rio-sponsored No. 11 car. Salazar, who is celebrating his 26th year in professional motorsports, has raced with great success all over the world. An internationally known winner, Salazar is a perfect match for Rio, which draws customers from around the globe to its first-class Las Vegas facilities.

"Racing with A.J. is going to take my career to a new level," Salazar said. "No one in racing has more experience than A.J. does, and no one knows more about winning. I know our determination, skill and knowledge will put us in the hunt for the championship."

Jeff Ward, a former motorcross champion who has twice finished in the top three at the Indianapolis 500, will be Salazar's teammate, driving the Harrah's-sponsored No. 14 car.

The Rio deal also includes a Harrah's sponsorship of Foyt's son Larry, who will compete as a rookie in the American Speed Association (ASA) stock car series this year. Larry, 23, who has raced and won in go-karts and Formula 2000 cars, will be working closely with three-time ASA champion Butch Miller, who will prepare and maintain the Harrah's No. 14 late model stock car for young Foyt.

Harrah's began its relationship with Foyt during the 1996-97 racing season, when it sponsored A.J. Foyt Enterprises at the IRL race in Las Vegas. The casino company's involvement increased last January, when Harrah's became an associate sponsor of both Foyt-owned IRL cars. While remaining an associate sponsor of the No. 14 car, Harrah's signed a three-year, multi-million-dollar deal last June making the company the title sponsor of Foyt's No. 11 car.

"Racing teams need the support of sponsors to win, and during the past year Harrah's has backed my team in every way possible," Foyt said. "Agreeing to bring the Rio aboard as the title sponsor of my second car was about the easiest decision I've made in a while."

Harrah's Entertainment, Inc. is the most recognized and respected name in the casino entertainment industry, operating 20 casinos in the United States. Founded more than 60 years ago, Harrah's is focused on building loyalty and value with its targeted customers through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership.

The world-class Rio Suite Hotel & Casino is a wholly owned subsidiary of Harrah's Entertainment, Inc. (NYSE: HET) and offers more than 2,500 suites, live entertainment at its best with the famous "Masquerade Show in the Sky," 17 award-winning restaurants, the world's largest public collection of fine and rare wines, shopping and a championship golf course -- Rio Secco. Harrah's Entertainment, Inc. is the most recognized and respected name in the casino entertainment industry operating 19 casinos in the United States under the Harrah's, Showboat and Rio brand names.

SOURCE Harrah's Entertainment, Inc.

CO: Harrah's Entertainment, Inc.; A.J. Foyt Enterprises; Indy Racing League; Rio All-Suite Casino Resort

ST: Nevada