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Exhibit 11
HARRAH'S ENTERTAINMENT, INC.
COMPUTATIONS OF PER SHARE EARNINGS
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Second Quarter Ended Six Months Ended
June 30, June 30, June 30, June 30,
2000 1999 2000 1999
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<S> <C> <C> <C> <C>
Income before extraordinary
losses $ 47,214,000 $ 47,923,000 $ 77,962,000 $ 85,268,000
Extraordinary losses, net (716,000) (7,375,000) (716,000) (10,623,000)
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Net income $ 46,498,000 $ 40,548,000 $ 77,246,000 $ 74,645,000
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BASIC EARNINGS PER SHARE
Weighted average number of common
shares outstanding 118,625,181 126,202,689 119,947,456 125,864,055
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BASIC EARNINGS PER COMMON SHARE
Income before extraordinary
losses $ 0.40 $ 0.38 $ 0.65 $ 0.67
Extraordinary losses, net (0.01) (0.06) (0.01) (0.08)
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Net income $ 0.39 $ 0.32 $ 0.64 $ 0.59
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DILUTED EARNINGS PER SHARE
Weighted average number of common
shares outstanding 118,625,181 126,202,689 119,947,456 125,864,055
Additional shares based on
average market price for
period applicable to:
Restricted stock 245,749 684,726 345,715 580,310
Stock options 1,122,442 2,096,989 1,135,898 1,422,001
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Average number of common and
common equivalent shares
outstanding 119,993,372 128,984,404 121,429,069 127,866,366
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DILUTED EARNINGS PER COMMON AND
COMMON EQUIVALENT SHARES
Income before extraordinary
losses $ 0.40 $ 0.37 $ 0.65 $ 0.66
Extraordinary losses, net (0.01) (0.06) (0.01) (0.08)
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Net income $ 0.39 $ 0.31 $ 0.64 $ 0.58
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