JUL 07 2010

World Series of Poker a success for Harrah's

The World Series of Poker continues to grow, since Harrah's Entertainment bought the tournament in 2004. " I was quite confident there would be a lot more to this than existed at the time," said President and Chief Executive Officer Gary Loveman. "But I never thought that we would have so many participants and tournaments as we do today."

A look at the numbers shows how much growth has taken place at the World Series after the casino company of Harrah's has purchased the World Series of Poker brand from Binion's Horseshoe Casino.

About 65,000 players from 115 countries are expected this year for the 57 events. An steady increase to the 60,875 participants from last year and four times more than the 14,000 who participated in 2004.

The upward trend of the World Series of Poker began in 2005 when the event was moved to the great halls of the Rio Hotel & Casino.

The prize for the winner of the Main Event has increased from $ 2,500,000 in 2003 to $ 7,500,000 in 2005. Last year it was $ 8,500,000.

For Loveman and Mitch Garber, chief executive officer of Harrah's Interactive Entertainment, the growing interest in poker of the sports channel ESPN played an important role.

Since 2003, ESPN is broadcasting every year from World Series of Poker.

Each year, Harrah's organizes 11 WSOP satellite events in its casinos. The company has brought the World Series of Poker brand to international level, there is an event of the World Series of Poker every year in London, England - the only place outside of Las Vegas where a World Series of Poker bracelet is awarded.

Another activity planned for 2011 is a series of events at Harrah's casino in South Africa.

The UIGEA law

Harrah's is committed to the Internet poker lobby in the United States. The company backs a bill of Rep. Barney Frank, which would provide online gambling operators a legal basis to be able to accept bets from U.S. citizens.
According to Loveman, Harrah's engagement is focused on online poker, not online casinos.


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