Document:

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                                                                     Exhibit-4.7

COMMERCIAL PAPER DEALER AGREEMENT

Between:

HARRAH'S OPERATING COMPANY, INC., as Issuer,

HARRAH'S ENTERTAINMENT, INC., as Guarantor,

and

CREDIT SUISSE FIRST BOSTON CORPORATION, as Dealer

Concerning Notes to be issued pursuant to an Issuing and Paying Agency Agreement
dated as of May 19, 2000 between the Issuer and Bank One, National Association,
as Issuing and Paying Agent.

Dated As of

May 3, 2000

COMMERCIAL PAPER DEALER AGREEMENT
3(a)(3) Program

This agreement("Agreement") sets forth the understandings between the Issuer,
the Guarantor and the Dealer, each named above, in connection with the issuance
and sale by the Issuer of its short-term commercial paper promissory notes
through the Dealer (the "Notes") with the guarantee of the Guarantor in the form
attached hereto.

Certain terms used in this Agreement are defined in Section 6 hereof.

The Addendum to this Agreement, and any Annexes or Exhibits described in this
Agreement or such Addendum, are hereby incorporated into this Agreement and made
fully a part hereof.

Section 1.        Issuance and Sale of Notes.
         1.1      While (i) the Issuer has and shall have no obligation to sell
                  the Notes to the Dealer or to permit the Dealer to arrange any
                  sale of the Notes for the account of the Issuer, and (ii) the
                  Dealer has and shall have no obligation to purchase the Notes
                  from the Issuer or to arrange any sale of the

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                  Notes for the account of the Issuer, the parties hereto agree
                  that in any case where the Dealer purchases Notes from the
                  Issuer, or arranges for the sale of Notes by the Issuer, such
                  Notes will be purchased or sold by the Dealer in reliance on
                  the representations, warranties, covenants and agreements of
                  the Issuer and the Guarantor contained herein or made pursuant
                  hereto and on the terms and conditions and in the manner
                  provided herein.

         1.2      So long as this Agreement shall remain in effect, the Issuer
                  shall not, without the consent of the Dealer, offer, solicit
                  or accept offers to purchase, or sell, any Notes or notes
                  substantially similar to the Notes in reliance upon the
                  exemption from registration under the Securities Act contained
                  in Section 3(a)(3) thereof, except (a) in transactions with
                  one or more dealers which may from time to time after the date
                  hereof become dealers with respect to the Notes by executing
                  with the Issuer one or more agreements substantially similar
                  to this Agreement, of which the Issuer hereby undertakes to
                  provide the Dealer prompt notice, (b) in transactions with the
                  other dealers listed on the Addendum hereto, which are
                  executing agreements with the Issuer substantially similar to
                  this Agreement contemporaneously herewith or (c) directly on
                  its own behalf in transactions with persons other than
                  broker-dealers with respect to which no commission is payable.

         1.3      The Notes shall be in a minimum denomination or minimum
                  amount, whichever is applicable, of $100,000 or integral
                  multiples of $1,000 in excess thereof, will bear such interest
                  rates, if interest bearing, or will be sold at such discount
                  from their face amounts, as shall be agreed upon by the Dealer
                  and the Issuer; shall have a maturity not exceeding 270 days
                  from the date of issuance (exclusive of days of grace); and
                  shall not contain any provision for extension, renewal or
                  automatic "rollover." The

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                  Notes shall be issued in the ordinary course of the Issuer's
                  business.

         1.4      The authentication, delivery and payment of the Notes shall be
                  effected in accordance with the Issuing and Paying Agency
                  Agreement and the Notes shall be either individual bearer
                  physical certificates or represented by book-entry Notes
                  registered in the name of DTC or its nominee in the form or
                  forms annexed to the Issuing and Paying Agency Agreement.

         1.5      If the Issuer and the Dealer shall agree on the terms of the
                  purchase of any Note by the Dealer or the sale of any Note
                  arranged by the Dealer (including, but not limited to,
                  agreement with respect to the date of issue, purchase price,
                  principal amount, maturity and interest rate (in the case of
                  interest-bearing Notes) or discount thereof (in the case of
                  Notes issued on a discount basis), and appropriate
                  compensation for the Dealer's services hereunder) pursuant to
                  this Agreement, the Issuer shall cause such Note to be issued
                  and delivered in accordance with the terms of the Issuing and
                  Paying Agency Agreement and payment for such Note shall be
                  made by the purchaser thereof, either directly or through the
                  Dealer, to the Issuer. Except as otherwise agreed, in the
                  event that the Dealer is acting as an agent and a customer
                  shall either fail to accept delivery of or make payment for a
                  Note on the date fixed for settlement, the Dealer shall
                  promptly notify the Issuer, and if the Dealer has theretofore
                  paid the Issuer for the Note, the Issuer will promptly return
                  such funds to the Dealer against its return of the Note to the
                  Issuer, in the case of a certificated Note, and upon notice of
                  such failure in the case of a book-entry Note. If such failure
                  occurred for any reason other than default by the Dealer, the
                  Issuer shall reimburse the Dealer on an equitable basis for
                  the Dealer's loss of the use of such funds for the period such
                  funds were credited to the Issuer's account.

Section 2.        Representations and Warranties of Issuer and the Guarantor.

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                  The Issuer and the Guarantor jointly and severally represent
                  and warrant that:

         2.1      The Issuer is a corporation duly organized, validly existing
                  and in good standing under the laws of the jurisdiction of its
                  incorporation and has all the requisite power and authority to
                  execute, deliver and perform its obligations under the Notes,
                  this Agreement and the Issuing and Paying Agency Agreement.

         2.2      The Guarantor is a corporation or limited liability company
                  duly organized, and validly existing and in good standing
                  under the laws of the jurisdiction of its incorporation or
                  organization and has all the requisite power and authority to
                  execute, deliver and perform its obligations under the
                  Guarantee, this Agreement and the Issuing and Paying Agency
                  Agreement.

         2.3      This Agreement, the Guarantee and the Issuing and Paying
                  Agency Agreement have been duly authorized, executed and
                  delivered by the Issuer and the Guarantor and constitute
                  legal, valid and binding obligations of the Issuer and the
                  Guarantor enforceable against the Issuer and the Guarantor in
                  accordance with their terms subject to applicable bankruptcy,
                  insolvency and similar laws affecting creditors' rights
                  generally, and subject, as to enforceability, to general
                  principles of equity (regardless of whether enforcement is
                  sought in a proceeding in equity or at law).

         2.4      The Notes and the Guarantee have been duly authorized, and
                  when issued and delivered as provided in the Issuing and
                  Paying Agency Agreement, will be duly and validly issued and
                  delivered and will constitute legal, valid and binding
                  obligations of the Issuer and the Guarantor enforceable
                  against the Issuer and the Guarantor in accordance with their
                  terms subject to applicable bankruptcy, insolvency and similar
                  laws affecting creditors' rights generally, and subject, as to
                  enforceability, to general principles of equity (regardless of
                  whether

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                  enforcement is sought in a proceeding in equity or at law).

         2.5      The Notes are not required to be registered under the
                  Securities Act, pursuant to the exemption from registration
                  contained in Section 3(a)(3) thereof, and no indenture in
                  respect of the Notes is required to be qualified under the
                  Trust Indenture Act of 1939, as amended; and the Notes are and
                  will be rated as "prime quality" commercial paper by at least
                  one nationally recognized statistical rating organization and
                  will rank at least pari passu with all other unsecured and
                  unsubordinated indebtedness of the Issuer.

         2.6      No consent or action of, or filing or registration with, any
                  governmental or public regulatory body or authority, including
                  the SEC, is required to authorize, or is otherwise required in
                  connection with the execution, delivery or performance of,
                  this Agreement, the Guarantee, the Notes or the Issuing and
                  Paying Agency Agreement, except as may be required by the
                  securities or Blue Sky laws of the various states in
                  connection with the offer and sale of the Notes.

         2.7      Neither the execution and delivery of this Agreement, the
                  Guarantee and the Issuing and Paying Agency Agreement, nor the
                  issuance and delivery of the Notes in accordance with the
                  Issuing and Paying Agency Agreement, nor the fulfillment of or
                  compliance with the terms and provisions hereof or thereof by
                  the Issuer and the Guarantor, will (i) result in the creation
                  or imposition of any mortgage, lien, charge or encumbrance of
                  any nature whatsoever upon any of the properties or assets of
                  the Issuer and the Guarantor, or (ii) violate or result in a
                  breach or an event of default under any of the terms of the
                  Issuer's charter documents or by-laws, any contract or
                  instrument to which the Issuer and the Guarantor is a party or
                  by which it or its property is bound, or any law or
                  regulation, or any order, writ, injunction or decree of any
                  court or government instrumentality, to which the

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                  Issuer and the Guarantor is subject or by which it or its
                  property is bound, which breach or event of default might have
                  a material adverse effect on the condition (financial or
                  otherwise), operations or business prospects of the Issuer and
                  the Guarantor or the ability of the Issuer and the Guarantor
                  to perform its obligations under this Agreement, the
                  Guarantee, the Notes or the Issuing and Paying Agency
                  Agreement.

         2.8      Neither the Issuer nor the Guarantor will not be in default of
                  any of its obligations hereunder, under the Notes, the
                  Guarantee or under the Issuing and Paying Agency Agreement, at
                  any time that any of the Notes are outstanding.

         2.9      There is no litigation or governmental proceeding pending, or
                  to the knowledge of the Issuer and the Guarantor threatened,
                  against or affecting the Issuer or the Guarantor or any of its
                  subsidiaries which might result in a material adverse change
                  in the condition (financial or otherwise), operations or
                  business prospects of the Issuer and the Guarantor or the
                  ability of the Issuer and the Guarantor to perform its
                  obligations under this Agreement, the Guarantee, the Notes or
                  the Issuing and Paying Agency Agreement.

         2.10     Neither the Issuer nor the Guarantor is an "investment
                  company" or an entity "controlled" by an "investment company"
                  within the meaning of the Investment Company Act of 1940, as
                  amended.

         2.11     Neither the Offering Materials nor the Company Information
                  contains any untrue statement of a material fact or omits to
                  state a material fact required to be stated therein or
                  necessary to make the statements therein, in light of the
                  circumstances under which they were made, not misleading.

         2.12     Each (a) issuance of Notes by the Issuer hereunder and (b)
                  amendment or supplement of the Offering Materials shall be
                  deemed a representation and warranty by the Issuer and the
                  Guarantor to the Dealer, as of the date thereof,

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                  that, both before and after giving effect to such issuance,
                  and after giving effect to such amendment or supplement, (i)
                  the representations and warranties given by the Issuer and the
                  Guarantor set forth above in this Section 2 remain true and
                  correct on and as of such date as if made on and as of such
                  date, (ii) in the case of an issuance of Notes with the
                  Guarantee, the Notes being issued on such date have been duly
                  and validly issued and constitute legal, valid and binding
                  obligations of the Issuer and the Guarantor, enforceable
                  against the Issuer and the Guarantor in accordance with their
                  terms, subject to applicable bankruptcy, insolvency and
                  similar laws affecting creditors' rights generally and
                  subject, as to enforceability, to general principles of equity
                  (regardless of whether enforcement is sought in a proceeding
                  in equity or at law), (iii) in the case of an issuance of
                  Notes, since the date of the most recent Offering Materials,
                  there has been no material adverse change in the condition
                  (financial or otherwise), operations or business prospects of
                  the Issuer and the Guarantor which has not been disclosed to
                  the Dealer in writing, and (iv) the Issuer is not in default
                  of any of its obligations hereunder, under the Notes or under
                  the Issuing and Paying Agency Agreement.

Section 3.        Covenants and Agreements of Issuer and the Guarantor. Each of
                  the Issuer and the Guarantor covenants and agrees that:

         3.1      They will give the Dealer prompt notice (but in any event
                  prior to any subsequent issuance of Notes hereunder) of any
                  amendment to, modification of, or waiver with respect to, the
                  Notes, the Guarantee or the Issuing and Paying Agency
                  Agreement, including a complete copy of any such amendment,
                  modification or waiver.

         3.2      They shall, whenever there shall occur any change in the
                  Issuer's or the Guarantor's condition (financial or
                  otherwise), operations or business prospects or any
                  development or occurrence in relation to the Issuer and the
                  Guarantor that would be material to holders of the Notes or

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                  potential holders of the Notes (including any formal ratings
                  action (downgrading or otherwise) accorded any of the Issuer's
                  or the Guarantor's securities by any nationally recognized
                  statistical rating organization which has published a rating
                  of the Notes), promptly, and in any event prior to any
                  subsequent issuance of Notes hereunder, notify the Dealer (by
                  telephone, confirmed in writing) of such change, development,
                  or occurrence.

         3.3      They shall from time to time furnish to the Dealer such
                  information as the Dealer may reasonably request including,
                  without limitation, any press releases or material provided by
                  the Issuer and the Guarantor to any national securities
                  exchange or rating agency, regarding (i) the Issuer's and the
                  Guarantor's operations and financial condition, (ii) the due
                  authorization and execution of the Notes, and (iii) the
                  Issuer's and the Guarantor's ability to pay the Notes as they
                  mature.

         3.4      They will take all such action as the Dealer may reasonably
                  request to ensure that each offer and each sale of the Notes
                  will comply with any applicable state Blue Sky laws; provided,
                  that neither the Issuer nor the Guarantor shall be obligated
                  to file any general consent to service of process or to
                  qualify as a foreign corporation in any jurisdiction in which
                  it is not so qualified or subject itself to taxation in
                  respect of doing business in any jurisdiction in which it is
                  not otherwise so subject.

         3.5      The Issuer will use the proceeds of each sale of the Notes for
                  "current transactions" within the meaning of Section 3(a)(3)
                  of the Securities Act.

         3.6      The Issuer shall not issue Notes hereunder until the Dealer
                  shall have received (a) an opinion of counsel to the Issuer,
                  addressed to the Dealer, satisfactory in form and substance to
                  the Dealer, (b) a copy of the executed Issuing and Paying
                  Agency Agreement as then in effect, (c) a copy of resolutions
                  adopted by the Board of Directors of the Issuer, satisfactory
                  in form and substance to

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                  the Dealer and certified by the Secretary or similar officer
                  of the Issuer authorizing the execution and delivery by the
                  Issuer of this Agreement, the Notes and the Issuing and Paying
                  Agency Agreement and consummation by the Issuer of the
                  transactions contemplated hereby and thereby, (d) prior to the
                  issuance of any Notes represented by a book-entry Note
                  registered in the name of DTC or its nominee, a copy of the
                  executed Letter of Representations among the Issuer, the
                  Issuing and Paying Agent and DTC, (e) a copy of the Guarantee,
                  as is then in effect, (f) a copy of the Guarantor's
                  resolutions adopted by the Guarantor's Board of Directors
                  authorizing such Guarantee, (g) an opinion of counsel for the
                  Guarantor, and, (h) such other certificates, letters, opinions
                  and documents as the Dealer shall have reasonably requested.

         3.7      The Issuer shall reimburse the Dealer for all of the Dealer's
                  reasonable out-of-pocket expenses related to this Agreement,
                  including expenses incurred in connection with its preparation
                  and negotiation, and the transactions contemplated hereby
                  (including, but not limited to, the printing and distribution
                  of the Offering Materials and any advertising expense), and,
                  if applicable, for the reasonable attorney fees and
                  out-of-pocket expenses of the Dealer's counsel.

Section 4.        Disclosure.

         4.1      Offering Materials which may be provided to purchasers and
                  prospective purchasers of the Notes shall be prepared for use
                  in connection with the transactions contemplated by this
                  Agreement. The Offering Materials and their contents (other
                  than the Dealer Information) shall be the sole responsibility
                  of the Issuer or the Guarantor. The Issuer of the Guarantor
                  authorizes the Dealer to distribute the Offering Materials as
                  the Dealer shall see fit.

         4.2      The Issuer agrees promptly to furnish the Dealer the Company
                  Information as it becomes available and the Guarantor agrees
                  to promptly furnish to

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                  the Dealer Guarantor information as it becomes available.

         4.3      (a) The Issuer and the Guarantor further agree to notify the
                  Dealer promptly upon the occurrence of any event relating to
                  or affecting the Issuer or the Guarantee that would cause the
                  Offering Materials then in existence to include an untrue
                  statement of material fact or to omit to state a material fact
                  necessary in order to make the statements contained therein,
                  in light of the circumstances under which they are made, not
                  misleading.

                  (b) In the event that the Dealer notifies the Issuer or the
                  Guarantor that it has Notes it is holding in inventory, the
                  Issuer or the Guarantor agree promptly to supplement or amend
                  the Offering Materials so that such Offering Materials, as
                  amended or supplemented, shall not contain an untrue statement
                  of a material fact or omit to state a material fact necessary
                  in order to make the statements therein, in light of the
                  circumstances under which they were made, not misleading, and
                  the Issuer or the Guarantor shall make such supplement or
                  amendment available to the Dealer and prospective holders of
                  Notes.

                  (c) In the event that (i) the Dealer does not notify the
                  Issuer or the Guarantor that it is then holding Notes in
                  inventory and (ii) the Issuer or the Guarantor chooses not to
                  promptly amend or supplement the Offering Materials in the
                  manner described in clause (b) above, then all solicitations
                  and sales of Notes shall be suspended until such time as the
                  Issuer or the Guarantor has so amended or supplemented the
                  Offering Materials, and made such amendment or supplement
                  available to the Dealer and prospective holders of Notes.

Section 5.        Indemnification and Contribution.

         5.1      The Issuer and the Guarantor will indemnify and hold harmless
                  the Dealer, each individual, corporation, partnership, trust,
                  association or other entity controlling the Dealer, any

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                  affiliate of the Dealer or any such controlling entity and
                  their respective directors, officers, employees, partners,
                  incorporators, shareholders, servants, trustees and agents
                  (hereinafter the "Indemnitees") against any and all
                  liabilities, penalties, suits, causes of action, losses,
                  damages, claims, costs and expenses (including, without
                  limitation, fees and disbursements of counsel) or judgments of
                  whatever kind or nature (each a "Claim"), imposed upon,
                  incurred by or asserted against the Indemnitees arising out of
                  or based upon (i) any allegation that the Offering Materials,
                  the Company Information, the Guarantor Information or any
                  information provided by the Issuer and the Guarantor to the
                  Dealer includes an untrue statement of a material fact or
                  omits to state any material fact necessary to make the
                  statements therein, in light of the circumstances under which
                  they were made, not misleading or (ii) arising out of or based
                  upon the breach by the Issuer or the Guarantor of any
                  agreement, covenant or representation made in or pursuant to
                  this Agreement. This indemnification shall not apply to the
                  extent that the Claim arises out of or is based upon Dealer
                  Information.

         5.2      Provisions relating to claims made for indemnification under
                  this Section 5 are set forth on Exhibit A to this Agreement.

         5.3      In order to provide for just and equitable contribution in
                  circumstances in which the indemnification provided for in
                  this Section 5 is held to be unavailable or insufficient to
                  hold harmless the Indemnitees, although applicable in
                  accordance with the terms of this Section 5, the Issuer and
                  the Guarantor shall contribute to the aggregate costs incurred
                  by the Dealer in connection with any Claim in the proportion
                  of the respective economic interests of the Issuer, the
                  Guarantor and the Dealer; provided, however, such contribution
                  by the Issuer shall be in an amount such that the aggregate
                  costs incurred by the Dealer do not exceed the aggregate of
                  the commissions and fees earned by the Dealer hereunder with
                  respect to the issue or issues of

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                  Notes to which such Claim relates. The respective economic
                  interests shall be calculated by reference to the aggregate
                  proceeds to the Issuer of the Notes issued hereunder and the
                  aggregate commissions and fees earned by the Dealer hereunder.

Section 6.        Definitions.

         6.1      "Claim" shall have the meaning set forth in Section 5.1.

         6.2      "Company Information" at any given time shall mean the
                  Offering Materials together with, to the extent applicable,
                  (i) the Issuer's most recent report on Form 10-K filed with
                  the SEC and each report on Form 10-Q or 8-K filed by the
                  Issuer with the SEC since the most recent Form 10-K, (ii) the
                  Issuer's most recent annual audited financial statements and
                  each interim financial statement or report prepared subsequent
                  thereto, if not included in item (i) above, (iii) the Issuer's
                  and its affiliates' other publicly available recent reports,
                  including, but not limited to, any publicly available filings
                  or reports provided to their respective shareholders, (iv) any
                  other information or disclosure prepared pursuant to Section
                  4.3 hereof and (v) any information prepared or approved by the
                  Issuer for dissemination to investors or potential investors
                  in the Notes.

         6.3      "Dealer Information" shall mean material concerning the Dealer
                  and provided by the Dealer in writing expressly for inclusion
                  in the Offering Materials.

         6.4      "DTC" shall mean The Depository Trust Company.

         6.5      "Indemnitee" shall have the meaning set forth in Section 5.1.

         6.6      "Issuing and Paying Agency Agreement" shall mean the issuing
                  and paying agency agreement described on the cover page of
                  this Agreement, as such agreement may be amended or
                  supplemented from time to time.

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         6.7      "Issuing and Paying Agent" shall mean the party designated as
                  such on the cover page of this Agreement, as issuing and
                  paying agent under the Issuing and Paying Agency Agreement.

         6.8      "Offering Materials" shall mean offering materials prepared in
                  accordance with Section 4, which may be provided to purchasers
                  and prospective purchasers of the Notes, and shall include
                  amendments and supplements thereto which may be prepared from
                  time to time in accordance with this Agreement.

         6.9      "SEC" shall mean the U.S. Securities and Exchange Commission.

         6.10     "Securities Act" shall mean the U.S. Securities Act of 1933,
                  as amended.

         6.11     "Guarantor Information" at any given time shall mean the
                  Offering Materials together with, to the extent applicable,
                  (i) the Guarantors' most recent report of Form 10-K filed with
                  the SEC and each report on Form 10-Q or 8-K filed by the
                  Issuer with the SEC since the most recent Form 10-K, (ii) the
                  Guarantors' most recent annual audited financial statements
                  and each interim financial statement or report prepared
                  subsequent thereto, if not included in item (i) above, (iii)
                  the Guarantors' other publicly available recent reports,
                  including, but not limited to, any publicly available filings
                  or reports provided to their respective shareholders, (iv) any
                  other information or disclosure prepared pursuant to Section
                  4.3 hereof and (v) any other information prepared or approved
                  by the Guarantors for dissemination to investors or potential
                  investors in the Notes.

         6.12     "Guarantee" shall have the meaning set forth in the first
                  paragraph of this Agreement.

Section 7.        General.

         7.1      Unless otherwise expressly provided herein, all notices under
                  this Agreement to parties hereto

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                  shall be in writing and shall be effective when received at
                  the address of the respective party set forth in the Addendum
                  to this Agreement.

         7.2      This Agreement shall be governed by and construed in
                  accordance with the laws of the State of New York, without
                  regard to its conflict of laws provisions.

         7.3      Each of the Issuer and the Guarantor agrees that any suit,
                  action or proceeding brought by the Issuer or the Guarantor
                  against the Dealer in connection with or arising out of this
                  Agreement or the Notes or the offer and sale of the Notes
                  shall be brought solely in the United States federal courts
                  located in the borough of Manhattan or the courts of the State
                  of New York located in the Borough of Manhattan. EACH OF THE
                  ISSUER AND THE GUARANTOR WAIVES ITS RIGHT TO TRIAL BY JURY IN
                  ANY SUIT, ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT
                  OR THE TRANSACTIONS CONTEMPLATED HEREBY.

         7.4      This Agreement may be terminated, at any time, by the Issuer
                  or the Guarantor, upon one business day's prior notice to such
                  effect to the Dealer, or by the Dealer upon one business day's
                  prior notice to such effect to the Issuer. Any such
                  termination, however, shall not affect the obligations of the
                  Issuer under Sections 3.7, 5 and 7.3 hereof or the respective
                  representations, warranties, agreements, covenants, rights or
                  responsibilities of the parties made or arising prior to the
                  termination of this Agreement.

         7.5      This Agreement is not assignable by either party hereto
                  without the written consent of the other party; provided
                  however, that the Dealer may assign its rights and obligations
                  under this Agreement to any wholly-owned subsidiary of the
                  ultimate parent company of the Dealer.

         7.6      This Agreement may be signed in any number of counterparts,
                  each of which shall be an original, with the same effect as if
                  the signatures thereto and hereto were upon the same
                  instrument.

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         7.7      This Agreement is for the exclusive benefit of the parties
                  hereto, and their respective permitted successors and assigns
                  hereunder, and shall not be deemed to give any legal or
                  equitable right, remedy or claim to any other person
                  whatsoever.

         IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed as of the date and year first above written.

                                    Harrah's Operating Company, Inc., as Issuer

                                    By:     /s/ James T. Evans
                                            ----------------------------------
                                    Name:   James T. Evans
                                    Title:  Assistant Treasurer

                                    Harrah's Entertainment, Inc., as Guarantor

                                    By:     /s/ James T. Evans
                                            ----------------------------------
                                    Name:   James T. Evans
                                    Title:  Assistant Treasurer

                                    Credit Suisse First Boston Corporation,
                                    as Dealer

                                    By:     /s/ Helena Willner
                                            ----------------------------------
                                    Name:   Helena Willner
                                    Title:  Director

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ADDENDUM

The following additional clauses shall apply to the Agreement and be deemed a
part thereof when the respective parties have placed their initials in the left
margin beside the respective paragraph number.

1.       The other dealer referred to in clause (b) of Section 1.2
         of the Agreement is :  Banc of America Securities, LLC.

2.       The addresses of the respective parties for purposes of notices under
         Section 7.1 are as follows:

         For the Issuer:   Harrah's Operating Company, Inc.
         Address:          1023 Cherry Road
                           Memphis, TN 38117
         Attention:        Tom Evans, Assistant Treasurer
         Telephone Number: (901) 537-3439
         Fax Number:       (901) 537-3443

         With a copy to:   Harrah's Operating Company, Inc.
         Address:          5100 West Sahara Boulevard
                           Suite 200
                           Las Vegas, NV 89146
         Attention:        General Counsel
         Telephone:        (702) 579-2610
         Fax Number:       (702) 579-2671

         For the Guarantor:Harrah's Entertainment, Inc.
         Address:          1023 Cherry Road
                           Memphis, TN 38117
         Attention:        Tom Evans, Assistant Treasurer
         Telephone Number: (901) 537-3439
         Fax Number:       (901) 537-3443

         For the Dealer:   Credit Suisse First Boston Corporation
         Address:          11 Madison Avenue
                           New York, NY 10010
         Attention:        Short Term Products Group
         Telephone Number: (212) 325-7198
         Fax Number:       (212) 325-8183

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EXHIBIT A

FURTHER PROVISIONS RELATING TO INDEMNIFICAION

         (a)      The Issuer and the Guarantor jointly and severally agree to
reimburse each Indemnitee for all expenses (including reasonable fees and
disbursements of internal and external counsel) as they are incurred by it in
connection with investigating or defending any loss, claim, damage, liability or
action in respect of which indemnification may be sought under Section 5 of the
Agreement (whether or not it is a party to any such proceedings).

         (b)      Promptly after receipt by an Indemnitee of notice of the
existence of a Claim, such Indemnitee will, if a claim in respect thereof is to
be made against the Issuer or the Guarantor, notify the Issuer and the Guarantor
in writing of the existence thereof; provided that (i) the omission so to notify
the Issuer and the Guarantor will not relieve it from any liability which it may
have hereunder unless and except to the extent it did not otherwise learn of
such Claim and such failure results in the forfeiture by the Issuer or the
Guarantor of substantial rights and defenses, and (ii) the omission so to notify
the Issuer and the Guarantor will not relieve it from liability which it may
have to an Indemnitee otherwise than on account of this indemnity agreement. In
case any such Claim is made against any Indemnitee and it notifies the Issuer
and the Guarantor of the existence thereof, the Issuer and the Guarantor will be
entitled to participate therein, and to the extent that it may elect by written
notice delivered to the Indemnitee, to assume the defense thereof, with counsel
reasonably satisfactory to such Indemnitee; provided that if the defendants in
any such Claim include both the Indemnitee and the Issuer and the Guarantor and
the Indemnitee shall have concluded that there may be legal defenses available
to it which are different from or additional to those available to the Issuer or
the Guarantor, the Issuer and the Guarantor shall not have the right to direct
the defense of such Claim on behalf of such Indemnitee, and the Indemnitee shall
have the right to select separate counsel to assert such legal defenses on
behalf of such Indemnitee. Upon receipt of notice from the Issuer or the
Guarantor to such Indemnitee of the Issuer's election so to assume the defense
of such Claim and approval by the Indemnitee of counsel, the Issuer or the
Guarantor will not be liable to such Indemnitee for expenses incurred thereafter
by the Indemnitee in connection with the defense thereof (other than reasonable
costs of

                                       17

<PAGE>

investigation) unless (i) the Indemnitee shall have employed separate counsel in
connection with the assertion of legal defenses in accordance with the provision
to the next preceding sentence (it being understood, however, that the Issuer
and the Guarantor shall not be liable for the expenses of more than one separate
counsel (in addition to any local counsel in the jurisdiction in which any Claim
is brought), approved by the Dealer, representing the Indemnitee who is party to
such Claim), (ii) the Issuer and the Guarantor shall not have employed counsel
reasonably satisfactory to the Indemnitee to represent the Indemnitee within a
reasonable time after notice of existence of the Claim or (iii) the Issuer and
the Guarantor has authorized in writing the employment of counsel for the
Indemnitee. The indemnity, reimbursement and contribution obligations of the
Issuer hereunder shall be in addition to any other liability the Issuer may
otherwise have to an Indemnitee and shall be binding upon and inure to the
benefit of any successors, assigns, heirs and personal representatives of the
Issuer and the Guarantor and any Indemnitee. The Issuer and the Guarantor agree
that without the Dealer's prior written consent, they will not settle,
compromise or consent to the entry of any judgment in any Claim in respect of
which indemnification may be sought under the indemnification provision of the
Agreement (whether or not the Dealer or any other Indemnitee is an actual or
potential party to such Claim), unless such settlement, compromise or consent
includes an unconditional release of each Indemnitee from all liability arising
out of such Claim.

                                       18<PAGE>

                                                                    Exhibit-10.1

                          HARRAH'S ENTERTAINMENT, INC.

                         SENIOR EXECUTIVE INCENTIVE PLAN

1.       PURPOSE

         1.1 This plan is an amendment and restatement of the Key Executive
Officer Incentive Plan originally adopted and approved in 1995. It is renamed
the Senior Executive Incentive Plan (the "Incentive Plan"). It is intended to
provide an incentive for superior work and to motivate eligible executives of
Harrah's Entertainment, Inc. (the "Company") toward even higher achievement and
business results, to tie their goals and interest to those of the Company and
its stockholders and to enable the Company to attract and retain highly
qualified executives. The Incentive Plan is for the benefit of covered
executives (as defined below). It is designed to ensure the bonuses paid under
the Plan to covered executives are deductible without limit under Section 162(m)
of the Internal Revenue Code of 1986, as amended (the "Code"), and the
regulations and interpretations promulgated thereunder.

2.       COVERED EXECUTIVES

         2.1 From time to time, the Bonus Committee (as described below) may
select certain key executives who are or who at some future date may be "covered
employees" as defined in Section 162(m)(3) of the Code (the "covered
executives") to be eligible to receive bonuses hereunder. A person's status as a
covered executive for a plan year may be cancelled by the Bonus Committee if the
person is not a "covered employee" (as defined by regulations under Code Section
162(m)) on the last day of the plan year.

3.       THE BONUS COMMITTEE

         3.1 The "Bonus Committee" shall be appointed by the Company's Board of
Directors (the "Board") and shall consist of at least two members of the Board.
The members of the Bonus Committee shall qualify as "outside directors" under
Section 162(m) of the Code. The Bonus Committee shall have the sole discretion
and authority to administer and interpret the Incentive Plan pursuant to the
requirements of Section 162(m).

<PAGE>

4.       BONUS DETERMINATIONS

         4.1 A covered executive may receive a bonus payment under the Incentive
Plan for a plan year based upon the attainment of performance objectives which
are established by the Bonus Committee and relate to one or more of the
following corporate business criteria (the "Performance Goals"): the Company's
pre-tax income, operating income, cash flow, earnings per share, return on
equity, return on invested capital or assets, market share, funds from
operations, appreciation in the fair market value of the Company's stock, cost
reductions or savings, or earnings before any one or more of the following
items: interest, taxes, depreciation, amortization or extraordinary items.

         4.2 Any bonuses paid to covered executives under the Incentive Plan
shall be based upon objectively determinable bonus formulas that tie such
bonuses to one or more objective performance objectives relating to the
Performance Goals. Bonus formulas for covered executives shall be adopted in
each performance period by the Bonus Committee no later than the latest time
permitted by Section 162(m) of the Code (for performance periods of one year, no
later than 90 days after the commencement of the plan year). No bonuses will be
paid to covered executives unless and until the Bonus Committee makes a
certification in writing with respect to the attainment of the performance
objectives as required by Section 162(m) of the Code. Although the Bonus
Committee may in its sole discretion reduce a bonus payable to a covered
executive pursuant to the applicable bonus formula, the Bonus Committee shall
have no discretion to increase the amount of a covered executive's bonus as
determined under the applicable bonus formula.

         4.3 The maximum bonus payable to a covered executive under the
Incentive Plan shall not exceed $5,000,000 with respect to any plan year.
Bonuses will be payable by March 15 of the year following the plan year.

         4.4 The payment of a bonus to a covered executive with respect to a
performance period shall be conditioned upon the covered executive's employment
by the Company on the last day of the performance period, provided, however, the
Bonus Committee may make exceptions to this requirement, in its sole discretion,
in the case of a covered executive's retirement, death or disability.

<PAGE>

5.       AMENDMENT AND TERMINATION

         5.1 The Bonus Committee reserves the right to amend or terminate the
Incentive Plan at any time in its sole discretion. Any amendments to the
Incentive Plan shall require stockholder approval only to the extent required by
Section 162(m) of the Code.

6.       STOCKHOLDER APPROVAL

         6.1 No bonuses shall be paid under the Incentive Plan unless and until
the Company's stockholders have approved the Incentive Plan and the Performance
Goals as required by Section 162(m) of the Code. So long as the Incentive Plan
shall not have been previously terminated by the Company, it shall be
resubmitted for approval by the Company's stockholders in the fifth year after
it shall have first been approved by the Company's stockholders, and every fifth
year thereafter. In addition, the Incentive Plan shall be resubmitted to the
Company's stockholders for approval as required by Section 162(m) of the Code if
it is amended in any way which changes the material terms of the Plan's
Performance Goals, including by materially modifying the Performance Goals,
increasing the maximum bonus payable under the Incentive Plan or changing the
Plan's eligibility requirements.

7.       LEGAL REQUIREMENTS

         7.1 The Incentive Plan is intended to comply with Section 162(m) of the
Code, as amended from time to time, and any required provisions of Section
162(m) and the regulations thereunder shall govern the Incentive Plan.

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