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Exhibit 11

HARRAH'S ENTERTAINMENT, INC.

COMPUTATIONS OF PER SHARE EARNINGS

			Year Ended December 31,
			2002			2001			2000
Income (loss) from continuing operations			$	324,643,000		$	208,351,000		$	(11,344,000	)
Discontinued operations, net of tax				1,555,000			639,000			–
Income (loss) before extraordinary losses and cumulative effect of change in accounting principle				326,198,000			208,990,000			(11,344,000	)
Extraordinary losses, net of tax				–			(23,000	)		(716,000	)
Cumulative effect of change in accounting principle, net of tax				(91,169,000	)		–			–
		Net income (loss)	$	235,029,000		$	208,967,000		$	(12,060,000	)
BASIC EARNINGS (LOSS) PER SHARE
Weighted average number of common shares outstanding				111,211,833			113,539,872			117,189,838
BASIC EARNINGS (LOSS) PER COMMON SHARE
Income (loss) from continuing operatons			$	2.92		$	1.83		$	(0.09	)
Discontinued operations, net				0.01			0.01			–
Income (loss) before extraordinary losses and cumulative effect of change in accounting principle				2.93			1.84			(0.09	)
Extraordinary losses, net				–			–			(0.01	)
Cumulative effect of change in accounting principle, net				(0.82	)		–			–
		Net income (loss)	$	2.11		$	1.84		$	(0.10	)
DILUTED EARNINGS (LOSS) PER SHARE
Weighted average number of common shares outstanding				111,211,833			113,539,872			117,189,838
	Additional shares based on average market price for period applicable to:
		Restricted stock		631,532			697,130			–
		Stock options		1,691,000			1,471,400			–
Average number of common and common equivalent shares outstanding(a)				113,534,365			115,708,402			117,189,838
DILUTED EARNINGS (LOSS) PER COMMON AND COMMON EQUIVALENT SHARE
Income (loss) from continuing operations			$	2.86		$	1.80		$	(0.09	)
Discontinued operations, net				0.01			0.01			–
Income (loss) before extraordinary losses and cumulative effect of change in accounting principle				2.87			1.81			(0.09	)
Extraordinary losses, net				–			–			(0.01	)
Cumulative effect of change in accounting principle, net				(0.80	)		–			–
		Net income (loss)	$	2.07		$	1.81		$	(0.10	)

(a)

The diluted share base for 2000 excludes common stock equivalents of 481,338 and 1,407,362 related to restricted stock and stock options, respectively. These shares are excluded due to their antidilutive effect as a result of the Company's net loss in 2000.

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HARRAH'S ENTERTAINMENT, INC. COMPUTATIONS OF PER SHARE EARNINGS