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Exhibit 12

HARRAH'S ENTERTAINMENT, INC.
COMPUTATION OF RATIOS
(In thousands, except financial percentages and ratios)

		2003(a)			2002(b)			2001(c)			2000(d)			1999(e)
Return on Revenues—Continuing
Income/(loss) from continuing operations		$	291,954		$	323,235		$	207,247		$	(12,335	)	$	207,240
Revenues			4,322,722			4,098,527			3,648,488			3,290,438			2,853,585
	Return		6.8	%		7.9	%		5.7	%		(0.4	)%		7.3	%
Return on Average Invested Capital
Income/(loss) from continuing operations		$	291,954		$	323,235		$	207,247		$	(12,335	)	$	207,240
Add: Interest expense after tax			147,450			149,417			159,236			141,394			121,846
		$	439,404		$	472,652		$	366,483		$	129,059		$	329,086
Average invested capital		$	5,780,236		$	5,551,011		$	5,056,814		$	4,503,446		$	4,243,991
	Return		7.6	%		8.5	%		7.2	%		2.9	%		7.8	%
Return on Average Equity
Income/(loss) from continuing operations		$	291,954		$	323,235		$	207,247		$	(12,335	)	$	207,240
Average equity			1,627,834			1,458,941			1,347,257			1,431,255			1,416,591
	Return		17.9	%		22.2	%		15.4	%		(0.9	)%		14.6	%
Ratio of Earnings to Fixed Charges(f)
Income/(loss) from continuing operations		$	291,954		$	323,235		$	207,247		$	(12,335	)	$	207,240
Add:
	Provision for income taxes		172,201			196,534			125,797			14,880			122,262
	Interest expense		234,419			240,220			255,801			227,139			193,407
	Interest included in rental expense		22,055			27,101			20,473			15,233			10,248
	Amortization of capitalized interest		992			1,220			1,398			1,572			1,335
	Loss/(income) from equity investments		1,073			(4,094	)		(148	)		314,958			33,042
Earnings as defined		$	722,694		$	784,216		$	610,568		$	561,447		$	567,534
Fixed charges:
	Interest expense	$	234,419		$	240,220		$	255,801		$	227,139		$	193,407
	Capitalized interest		2,349			3,537			9,309			7,960			13,118
	Interest included in rental expense		22,055			27,101			20,473			15,233			10,248
Total fixed charges		$	258,823		$	270,858		$	285,583		$	250,332		$	216,773
	Ratio of earnings to fixed charges		2.8			2.9			2.1			2.2			2.6

(a)

2003 includes $11.1 million in pretax charges for write-downs, reserves and recoveries and $19.1 million in pretax charges for premiums paid for, and write-offs associated with, debt retired before maturity.

(b)

2002 includes $5.0 million in pretax charges for write-downs, reserves and recoveries, a $6.1 million pretax charge for our exposure under a letter of credit issued on behalf of National Airlines, Inc., and a charge of $91.2 million, net of tax benefits of $2.8 million, related to a change in accounting principle. 2002 also includes the financial results of Jazz Casino Company LLC from the date of our acquisition of a majority ownership interest on June 7, 2002. 2002 results have been reclassified to reflect Harrah's Vicksburg as discontinued operations.

(c)

2001 includes $22.5 million in pretax charges for write-downs, reserves and recoveries and $26.2 million of pretax income from dispositions of nonstrategic assets and the settlement of a contingency related to a former affiliate. 2001 also includes the financial results of Harveys Casino Resorts from its July 31, 2001, date of acquisition. 2001 results have been reclassified to reflect Harrah's Vicksburg as discontinued operations.

(d)

2000 includes $220.0 million in pretax reserves for receivables not expected to be recovered from JCC Holding Company and its subsidiary, Jazz Casino Company, LLC, $6.1 million in pretax charges for other write-downs, reserves and recoveries, and $39.4 million in pretax write-offs and reserves for our investment in, loans to and net estimated exposure under letters of credit issued on behalf of National Airlines, Inc. 2000 also includes the financial results of Players International, Inc. from its March 22, 2000, date of acquisition. 2000 results have been reclassified to reflect Harrah's Vicksburg as discontinued operations.

(e)

1999 includes $2.2 million in pretax charges for write-downs, reserves and recoveries, $59.8 million of pretax gains from sales of our equity interests in nonconsolidated affiliates and $17.0 million in pretax losses on debt retired before maturity. 1999 results have been reclassified to reflect Harrah's Vicksburg as discontinued operations.

(f)

For purposes of computing this ratio, "earnings" consist of income before income taxes plus fixed charges (excluding capitalized interest) and minority interests (relating to subsidiaries whose fixed charges are included in the computation), excluding equity in undistributed earnings of less than 50% owned investments. "Fixed charges" include interest whether expensed or capitalized, amortization of debt expense, discount or premium related to indebtedness and such portion of rental expense that we deem to be representative of interest. As required by the rules which govern the computation of this ratio, both earnings and fixed charges are adjusted where appropriate to include the financial results for the Company's nonconsolidated majority-owned subsidiaries. As discussed in Note 11 to the Consolidated Financial Statements, the Company has guaranteed certain third-party loans in connection with its casino development activities. The above ratio computation excludes estimated fixed charges associated with these guarantees as follows: 2003, $9.5 million; 2002, $7.0 million; 2001, $4.4 million; 2000, $5.7 million; and 1999, $6.2 million.

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HARRAH'S ENTERTAINMENT, INC. COMPUTATION OF RATIOS (In thousands, except financial percentages and ratios)