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Exhibit 11

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

			Second Quarter Ended					Six Months Ended
			June 30, 2003			June 30, 2002		June 30, 2003			June 30, 2002
Income from continuing operations			$	77,934,000		$	84,852,000	$	158,197,000		$	169,230,000
Discontinued operations, net				(1,250,000	)		1,264,000		(433,000	)		2,047,000
Cumulative effect of change in accounting principle, net				—			—		—			(91,169,000	)
	Net income		$	76,684,000		$	86,116,000	$	157,764,000		$	80,108,000
BASIC EARNINGS PER SHARE
Weighted average number of common shares outstanding				108,785,708			112,687,622		108,641,077			112,280,833
BASIC EARNINGS PER COMMON SHARE
Income from continuing operations			$	0.72		$	0.75	$	1.45		$	1.50
Discontinued operations, net				(0.01	)		0.01		—			0.02
Cumulative effect of change in accounting principle, net				—			—		—			(0.81	)
	Net income		$	0.71		$	0.76	$	1.45		$	0.71
DILUTED EARNINGS PER SHARE
Weighted average number of common shares outstanding				108,785,708			112,687,622		108,641,077			112,280,833
	Additional shares based on average market price for period applicable to:
		Restricted stock		366,453			575,270		428,119			617,196
		Stock options		1,221,287			1,885,128		1,099,081			1,732,929
Average number of common and common equivalent shares outstanding				110,373,448			115,148,020		110,168,277			114,630,958
DILUTED EARNINGS PER COMMON AND COMMON EQUIVALENT SHARE
Income from continuing operations			$	0.70		$	0.74	$	1.43		$	1.48
Discontinued operations, net				(0.01	)		0.01		—			0.02
Cumulative effect of change in accounting principle, net				—			—		—			(0.80	)
	Net income		$	0.69		$	0.75	$	1.43		$	0.70

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Exhibit 11

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