Document:

Exhibit 4.2

OFFICERS’
CERTIFICATE

Pursuant to Sections 301 and 303 of the Indenture

June 9, 2006

The undersigned, Jonathan S. Halkyard, the Senior
Vice President and Treasurer of Harrah’s Operating Company, Inc., a
Delaware corporation (the “Company”), and Harrah’s Entertainment, Inc.,
a Delaware corporation (the “Guarantor”), and Michael D. Cohen, the Vice
President, Associate General Counsel and Corporate Secretary of the Company and
the Guarantor, having read the Indenture, dated as of the date hereof (the “Indenture”),
between the Issuer and U.S. Bank National Association, as trustee, including
Sections 201, 301 and 303 thereof, and the definitions in such Indenture
relating thereto and certain other corporate documents and records, and having
made such examination or investigation as each considers necessary to enable
the undersigned to express an informed opinion, herein certify on behalf of the
Issuer as follows:

A.            The
form, title and terms of the series of Securities (as defined in the Indenture)
established under the Indenture to be entitled “6.50% Senior Notes due 2016”
were established by (a) resolutions (the “Pricing Committee Resolutions”)
of the Pricing Committee of the Board of Directors of the Company (the “Pricing
Committee”) as set forth in Exhibit A hereto, (b) by resolutions
(the “Finance Committee Resolutions”) of the Finance Committee of the
Board of Directors of the Guarantor (the “Finance Committee”) as set
forth in Exhibit B hereto and (c) by resolutions (the “Guarantor
Pricing Committee Resolutions”) of the Pricing Committee of the Board of
Directors of the Guarantor (the “Guarantor Pricing Committee”) as set
forth in Exhibit C hereto.

B.            The
Pricing Committee was established by resolutions (the “Company Board
Resolutions”) of the Board of the Directors of the Company as set forth in Exhibit D
hereto.

C.            The
Finance Committee was established by resolutions (the ”Guarantor Board
Resolutions”) of the Board of the Directors of the Guarantor as set forth
in Exhibit E hereto.

D.            The
Guarantor Pricing Committee was established by the Finance Committee
Resolutions.

E.             In
addition to the covenants set forth in Article X of the Indenture, the
Notes shall include the following additional covenants, and such additional
covenants shall be subject to covenant defeasance pursuant to Section 1303
of the Indenture (capitalized terms used herein without definition have the
meanings assigned to them in the Indenture):

“Section 1007        Limitation
on Liens.

Neither the Company nor any of its Subsidiaries may issue,
assume or guarantee any Indebtedness secured by a Lien upon any Consolidated
Property or on any Indebtedness or shares of capital stock of, or other
ownership interests in, any Subsidiaries (regardless of whether the
Consolidated Property, Indebtedness, capital stock or ownership interests were
acquired before or after the date of the Indenture) 

 

 

without effectively providing that the notes shall be
secured equally and ratably with (or prior to) such Indebtedness so long as
such Indebtedness shall be so secured, except that this restriction will not
apply to:

(1)           Liens existing on the date of
original issuance of the Notes;

(2)           Liens affecting property of a
corporation or other entity existing at the time it becomes a Subsidiary of the
Company or at the time it is merged into or consolidated with the Company or a
Subsidiary of the Company;

(3)           Liens on property existing at the
time of acquisition thereof or to secure Indebtedness incurred prior to, at the
time of, or within 24 months after the acquisition for the purpose of financing
all or part of the purchase price thereof;

(4)           Liens on any property to secure all
or part of the cost of improvements or construction thereon or Indebtedness
incurred to provide funds for such purpose in a principal amount not exceeding
the cost of such improvements or construction;

(5)           Liens which secure Indebtedness owing
by a Subsidiary of the Company to the Company or to another Subsidiary of the
Company;

(6)           Liens securing Indebtedness of the
Company the proceeds of which are used substantially simultaneously with the
incurrence of such Indebtedness to retire Funded Debt;

(7)           purchase money security Liens on
personal property;

(8)           Liens securing Indebtedness of the
Company or any of its Subsidiaries the proceeds of which are used within 24
months of the incurrence of such Indebtedness for the cost of the construction
and development or improvement of property of the Company or any of its
Subsidiaries;

(9)           Liens on the stock, partnership or
other equity interest of the Company or any of its Subsidiaries in any Joint
Venture or any such Subsidiary which owns an equity interest in such Joint
Venture to secure Indebtedness, provided the amount of such Indebtedness is
contributed and /or advanced solely to such Joint Venture;

(10)         Liens to government entities, including
pollution control or industrial revenue bond financing;

(11)         Liens required by any contract or
statute in order to permit the Company or a Subsidiary of the Company to
perform any contract or subcontract made by it with or at the request of a
governmental entity;

(12)         mechanic’s, materialman’s, carrier’s or
other like Liens, arising in the ordinary course of business;

(13)         Liens for taxes or assessments and
similar charges;

(14)         zoning restrictions, easements, licenses,
covenants, reservations, restrictions on the use of real property and certain
other minor irregularities of title; and

(15)         any extension, renewal, replacement or
refinancing of any Indebtedness secured by a Lien permitted by any of the
foregoing clauses.

 2
 

 

 

Notwithstanding the foregoing, the Company and any one
or more of its Subsidiaries may, without securing the Notes, issue, assume or
guarantee Indebtedness which would otherwise be subject to the foregoing
restrictions in an aggregate principal amount which, together with all other
such Indebtedness of the Company and its Subsidiaries which would otherwise be
subject to the foregoing restrictions (not including Indebtedness permitted by
the preceding paragraph) and the aggregate Value of Sale and Lease-Back
Transactions (other than those in connection with which the Company has
voluntarily retired Funded Debt), does not at any one time exceed 15% of
Consolidated Net Tangible Assets of the Company and its consolidated
Subsidiaries.

Section 1008          Limitation
on Sale and Lease-Back Transactions.

Neither the Company nor any of its Subsidiaries will
enter into any Sale and Lease-Back Transaction unless either:

(1)           the Company or such Subsidiary would
be entitled, pursuant to the provisions described above, under “Limitation on
Liens,” to incur Indebtedness in a principal amount equal to or exceeding the
Value of such Sale and Lease-Back Transaction, secured by a Lien on the
property to be leased, without equally and ratably securing the Notes; or

(2)           the Company within 120 days after the
effective date of such Sale and Lease-Back Transaction applies to the voluntary
retirement of its Funded Debt an amount equal to the Value of all conditions
precedent provided for in the Indenture relating to the issuance of and
establishment of the form, title and terms of such series, including those set
forth in Sections 201, 301 and 303 of the Indenture, have been complied with;
and

(3)           the Sale and Lease-Back Transaction
(subject to credits for certain voluntary retirements of Funded Debt).

Section 1009          Taxes.
The Company will, and will cause each of its Significant Subsidiaries to, pay
prior to delinquency all material taxes, assessments and governmental levies,
except as contested in good faith and by appropriate proceedings or where the
failure to effect such payment is not adverse in any material respect to a
holder of the Notes.”

F.             In addition to the
definitions set forth in Article I of the Indenture, the Notes shall
include the following definitions, which, in the event of a conflict with the
definition of terms in the Indenture, shall control:

“Consolidated Property”
means any property of the Company or any of its Subsidiaries.

“Funded Debt” means all
Indebtedness of the Company which (1) matures by its terms on, or is
renewable at the option of any obligor thereon to, a date more than one year
after the date of original issuance of such Indebtedness and (2) ranks at
least 

 3
 

 

 

pari passu with the notes.

“Lien” means any
mortgage, pledge, hypothecation, assignment, deposit, arrangement, encumbrance,
security interest, lien (statutory or otherwise), or preference, priority or
other security or similar agreement or preferential arrangement of any kind or
nature whatsoever (including, without limitation, any conditional sale or other
title retention agreement having substantially the same economic effect as any
of the foregoing).

“Sale and Lease-Back
Transaction” means any arrangement with a person (other than the Company or any
of its Subsidiaries), or to which any such person is a party, providing for the
leasing to the Company or any of its Subsidiaries for a period of more than
three years of any Consolidated Property which has been or is to be sold or
transferred by the Company or any of its Subsidiaries to such person or to any
other person (other than the Company or any of its Subsidiaries), to which
funds have been or are to be advanced by such person on the security of the
leased property.

“Subsidiary” of any
specified person means any corporation of which at least a majority of the
outstanding stock having by the terms thereof ordinary voting power for the
election of directors of such corporation (irrespective of whether or not at
the time stock of any other class or classes of such corporation shall have or
might have voting power by reason of the happening of any contingency) is at
the time directly or indirectly owned by such person, or by one or more other
Subsidiaries, or by such person and one or more other Subsidiaries.

“Value” means, with
respect to a Sale and Lease-Back Transaction, as of any particular time, the
amount equal to the greater of (1) the net proceeds of the sale or
transfer of property leased pursuant to such Sale and Lease-Back Transaction or
(2) the fair value, in the opinion of the Company’s Board of Directors as
evidenced by a board resolution, of such property at the time of entering into
such Sale and Lease-Back Transaction.

G.            Each of the
undersigned is authorized to approve the form, terms and conditions of the
Notes.

H.            The Notes shall be
issued as Global Securities (subject to exchange for definitive certificated
Notes under the circumstances provided in the Indenture) and The Depository
Trust Company shall be Depository for the Notes.

I.              To the best
knowledge of the undersigned, all of the covenants and conditions precedent
provided for in the Indenture for the issuance of the Notes have been
satisfied.

J.             To the best
knowledge of the undersigned, no Event of Default (as defined in the Indenture)
has occurred and is continuing with respect to the Securities of those series.

 4
 

 

 

As of the date hereof the Pricing Committee
Resolutions, Finance Committee Resolutions, Guarantor Pricing Committee
Resolutions, Company Board Resolutions and Guarantor Board Resolutions remain
in full force and effect and have not been rescinded or amended.

[SIGNATURE PAGE FOLLOWS]

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IN WITNESS WHEREOF, the undersigned have, as of the
date first written above, in the name and on behalf of each of the Company and
the Guarantor, hereunto signed their names.

	
   

  	
  HARRAH’S OPERATING COMPANY,
  INC.

  
	
   

  	
  HARRAH’S
  ENTERTAINMENT, INC.

  
	
   

  	
   

  
	
   

  	
  /s/ Jonathan S.
  Halkyard

  
	
   

  	
  Jonathan S.
  Halkyard

  
	
   

  	
  Senior Vice
  President and Treasurer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Michael D.
  Cohen

  
	
   

  	
  Michael D. Cohen

  
	
   

  	
  Vice President,
  Assistant General Counsel and 

  
	
   

  	
  Corporate
  Secretary

  

 

The undersigned, Angela P. Winter, Assistant Secretary
of each of the Company and the Guarantor, hereby certifies that
Jonathan S. Halkyard is the duly elected, qualified and acting Senior Vice
President and Treasurer of each of the Company and the Guarantor, and Michael
D. Cohen is the duly elected, qualified and acting Vice President, Assistant
General Counsel and Corporate Secretary of each of the Company and the
Guarantor, and that the signatures set forth above are the genuine signatures
of such officers.

IN WITNESS WHEREOF, I have, as of the date first
written above, in the name and on behalf of the Company and the Guarantor,
hereunto signed my name.

	
   

  	
  HARRAH’S OPERATING COMPANY,
  INC.

  
	
   

  	
  HARRAH’S
  ENTERTAINMENT, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Angela P.
  Winter

  
	
   

  	
  Angela P. Winter

  
	
   

  	
  Assistant
  Secretary

  

 

 6Exhibit 4.3

THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF
THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE THEREOF. THIS NOTE MAY NOT BE EXCHANGED IN WHOLE
OR IN PART FOR A NOTE REGISTERED, AND NO TRANSFER OF THIS NOTE IN WHOLE OR
IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH
DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED
IN THE INDENTURE.

HARRAH’S OPERATING
COMPANY, INC.

6.50% Senior Notes due
2016

Payment of principal,
interest and premium, if any, unconditionally guaranteed by

HARRAH’S ENTERTAINMENT,
INC.

No. 1

CUSIP No. 413627AX8                                                                        Principal
Amount: $500,000,000

Harrah’s Operating Company, Inc., a Delaware
corporation (herein called the “Company,” which term includes any
successor under the Indenture hereinafter referred to), for value received,
hereby promises to pay to Cede & Co., or registered assigns, the
principal sum of FIVE HUNDRED MILLION DOLLARS ($500,000,000 ) on June 1,
2016 (the “Maturity Date”), and to pay interest thereon from June 9,
2006 or from the most recent date to which interest has been paid or duly
provided for, semi-annually on June 1 and December 1 of each year
(each, an “Interest Payment Date”), commencing December 1, 2006, at
the rate of 6.50% per annum, until the principal hereof is paid or made
available for payment. Interest on this Note shall be calculated on the basis
of a 360-day year consisting of twelve 30-day months. The interest
so payable, and punctually paid or duly provided for, on any Interest Payment
Date will, as provided in such Indenture, be paid to the Person in whose name
this Note is registered at the close of business on the Regular Record Date for
such interest, which shall be the May 15 and November 15 (whether or
not a Business Day), as the case may be, next preceding such Interest Payment
Date. Any such interest not so punctually paid or duly provided for on any
Interest Payment Date will forthwith cease to be payable to the Holder on such
Regular Record Date by virtue of having been such Holder and may either be paid
to the Person in whose name this Note is registered at the close of business on
a Special Record Date for the payment of such Defaulted Interest to be fixed by
the Trustee, notice whereof shall be given to Holders of Notes of this series
not less than 10 days prior to such Special Record Date, or be paid at any time
in any other lawful manner not inconsistent with the requirements of any
securities exchange on which the Notes of this series may be listed, and upon
such notice as may be required by such exchange, all as more fully provided in
said Indenture.

 

Payment of the principal of (and premium, if any) and
any such interest on this Note will be made at the office or agency of the
Company maintained for that purpose in New York City, in such coin or currency
of the United States of America as at the time of payment is legal tender for
payment of public and private debts; provided, however, that at the option of
the Company payment of interest may be made by check mailed to the address of
the Person entitled thereto as such address shall appear in the Security
Register or by wire transfer at such place and to such account at a banking
institution in the United States as may be designated in writing to the Trustee
at least fifteen (15) days prior to the date for payment by the Person entitled
thereto. Notwithstanding the foregoing, so long as the Holder of this Note is
the Depositary or its nominee, payment of the principal of (and premium, if
any) and any such interest on this Note will be made by wire transfer of
immediately available funds.

Reference is hereby made to the further provisions of
this Note set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

Unless the certificate of authentication hereon has
been executed by the Trustee referred to on the reverse hereof by manual
signature, this Note shall not be entitled to any benefit under the Indenture
or be valid or obligatory for any purpose.

 2
 

 

IN WITNESS WHEREOF, the Company has caused this
instrument to be duly executed.

Dated June 9, 2006

	
  

  	
  HARRAH’S OPERATING COMPANY, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Name:

  	
  Jonathan S. Halkyard

  
	
   

  	
  Title:

  	
  Senior Vice President and Treasurer

  

 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes of the series designated

therein referred to in the within-mentioned Indenture.

U.S. BANK NATIONAL ASSOCIATION, as Trustee

	
  By:                                                                      

  
	
       Name:

  
	
       Authorized
  Signatory

  

 

 3
 

 

[Reverse of Note]

This Note is one of a duly authorized issue of Notes
of the Company (herein called the “Notes”), issued and to be issued in
one or more series under an Indenture, dated as of June 9, 2006, (herein
called the “Indenture,” which term shall have the meaning assigned to it
in such instrument), between the Company and U.S. Bank National Association, as
Trustee (herein called the “Trustee,” which term includes any successor
trustee under the Indenture), and reference is hereby made to the Indenture for
a statement of the respective rights, limitation of rights, duties and
immunities thereunder of the Company, the Trustee and the Holders of the Notes and
of the terms upon which the Notes are, and are to be, authenticated and
delivered. This Note is one of the series designated on the face hereof,
limited (subject to exceptions provided in the Indenture) in aggregate
principal amount to $750,000,000.

The Notes are subject to redemption prior to the
Maturity Date of the principal thereof as provided in the Indenture.

The indenture contains provisions whereby (i) the
Company may be discharged from its obligations with respect to the Notes
(subject to certain exceptions) or (ii) the Company may be released from
its obligations under specified covenants and agreements in the Indenture, in
each case if the Company irrevocably deposits with the Trustee money or U.S.
Government Obligations sufficient to pay and discharge the entire indebtedness
on all Notes, and satisfies certain other conditions, all as more fully
provided in the Indenture.

If an Event of Default with respect to Notes of this
series shall occur and be continuing, the principal of the Notes of this series
may be declared due and payable in the manner and with the effect provided in
the Indenture.

The Indenture permits, with certain exceptions as
therein provided, the amendment thereof and the modification of the rights and
obligations of the Company and the rights of the Holders of the Notes of each
series affected under the Indenture at any time by the Company and the Trustee
with the consent of the Holders of at least a majority in aggregate principal
amount of the Notes of each series at the time Outstanding affected thereby.
The Indenture also contains provisions permitting the Holders of specified
percentages in aggregate principal amount of the Notes of any series at the
time Outstanding, on behalf of the Holders of all Notes of such series, to
waive compliance by the Company with certain provisions of the Indenture and
certain past defaults under the Indenture with respect to such series and its
consequences. Any such consent or waiver by the Holder of this Note shall be
conclusive and binding upon such Holder and upon all future Holders of this
Note and of any Note issued upon the registration of transfer hereof or in
exchange therefor or in lieu hereof, whether or not notation of such consent or
waiver is made upon this Note.

As provided in and subject to the provisions of the
Indenture, the Holder of this Note shall not have the right to institute any
proceeding, judicial or otherwise, with respect to the Indenture, or for the
appointment of a receiver or trustee, or for any other remedy thereunder,
unless such Holder shall have previously given the Trustee written notice of a
continuing Event of Default

 4
 

 

with respect to the Notes of this series, the Holders
of not less than 25% in principal amount of the Notes of this series at the
time Outstanding shall have made written request to the Trustee to institute
proceedings in respect of such Event of Default as Trustee, such Holder or
Holders shall have offered the Trustee reasonable indemnity against the costs,
expenses and liabilities to be incurred in compliance with such request, and
the Trustee, for 60 days after its receipt of such notice shall not have
received from the Holders of a majority in principal amount of Notes of this
series at the time Outstanding a direction inconsistent with such request, and
the Trustee shall have failed to institute any such proceeding, for 60 days
after receipt of such notice, request and offer of indemnity. The foregoing
shall not apply to any suit instituted by the Holder of this Note for the
enforcement of any payment of principal hereof or any premium or interest
hereon on or after the respective due dates expressed herein.

No reference herein to the Indenture and no provision
of this Note or of the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the principal of and
premium, if any, and interest on this Note at the times, place and rate, and in
the coin or currency, herein prescribed.

As provided in the Indenture and subject to certain
limitations therein set forth, the transfer of this Note is registrable in the
Security Register, upon surrender of this Note for registration of transfer at
the office or agency of the Company in any place where the principal of and any
premium and interest on this Note are payable, duly endorsed by, or accompanied
by a written instrument of transfer in form satisfactory to the Company and the
Note Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Notes of this series and
of like tenor, of authorized denominations and for the same aggregate principal
amount, will be issued to the designated transferee or transferees.

The Notes of this series are issuable only in
registered form without coupons in denominations of $1,000 and any integral
multiple thereof. As provided in the Indenture and subject to certain
limitations therein set forth, Notes of this series are exchangeable for a like
aggregate principal amount of Notes of this series and of like tenor of a
different authorized denomination, as requested by the Holder surrendering the
same.

No service charge shall be made for any such
registration of transfer or exchange, but the Company may require payment of a
sum sufficient to cover any tax or other governmental charge payable in
connection therewith.

Prior to due presentment of this Note for registration
of transfer, the Company, the Trustee and any agent of the Company or the
Trustee may treat the Person in whose name this Note is registered as the owner
hereof for all purposes, whether or not this Note be overdue, and neither the
Company, the Trustee nor any such agent shall be affected by notice to the
contrary.

This Note shall be governed by and construed in
accordance with the laws of the State of New York without regard to conflicts
of laws principles thereof.

All terms used in this Note which are defined in the
Indenture and not defined herein shall have the meanings assigned to them in
the Indenture.

 5
 

 

ASSIGNMENT FORM

FOR, VALUE RECEIVED, the undersigned registered holder
hereby sell(s), assign(s) and transfer(s) unto

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING
NUMBER OF ASSIGNEE

_________________________________

_________________________________

________________________________________________________

PLEASE PRINT OR TYPEWRITE
NAME AND ADDRESS OF ASSIGNEE

________________________________________________________

the within Note and all rights thereunder, hereby
irrevocably constituting and appointing

________________________________________________________
Attorney to transfer said Note on the books of the Company with full power of
substitution in the premises.

Dated: _________________________

Notice:  The signature to this assignment must
correspond with the name as it appears upon the face of the Note in every
particular, without alteration or enlargement or any change whatever.

	
  

  	
   

  
	
  Signature must be guaranteed by a participant in a
  recognized signature guaranty medallion program or other signature guarantor
  acceptable to the Trustee

  	
  Signature of Signature Guarantor

  

 

 6
 

 

ABBREVIATIONS

The following abbreviations, when used in the
inscription on the face of this instrument, shall be construed as though they
were written out in full according to applicable laws or regulations:

TEN COM—as tenants in common UNIF GIFT MIN ACT—_______ Custodian
_______

TEN ENT—as tenants by the entireties           (Cust)                     (Minor)

JT TEN—as joint tenants
with right of                                     Under Uniform Gifts to Minors          

survivorship and not as                      Act
________________________                

tenants in common                                                              (State)

Additional abbreviations
may also be used though not in the above list.

 7
 

 

SCHEDULE
OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE

The following exchanges of a part of this Global Note
for an interest in another Global Note or for a Certificated Note, or exchanges
of a part of another Global Note or Certificated Note for an interest in this
Global Note, have been made:

	
  Date of Exchange

  	
   

  	
  Amount of decrease in

  Principal Amount of

  this Global Note

  	
   

  	
  Amount of increase in

  Principal Amount of

  this Global Note

  	
   

  	
  Principal Amount 

  of this Global Note

  following such

  decrease (or increase)

  	
   

  	
  Signature of authorized

  officer of Trustee or

  Custodian

  	
   

  

 

 8
 

 

NOTATION
OF GUARANTEE OF HARRAH’S ENTERTAINMENT, INC.

For value received, the undersigned, Harrah’s
Entertainment, Inc. (the “Guarantor”) (which term includes any
successor person under the Indenture), has unconditionally guaranteed, to the
extent set forth in the Indenture and subject to the provisions in the
Indenture, dated as of June 9, 2006 (the “Indenture”), among Harrah’s
Operating Company, Inc. (the “Company”), the Guarantor and U.S.
Bank National Association, as trustee (the “Trustee”) (a) the due
and punctual payment of the principal of, premium, if any, and interest on, the
Notes, whether at maturity, by acceleration, redemption or otherwise, the due
and punctual payment of interest on overdue principal of and interest on the
Notes, if any, if lawful, and the due and punctual performance of all other
obligations of the Company to the Holders or the Trustee all in accordance with
the terms of the Indenture and (b) in case of any extension of time of
payment or renewal of any Notes or any of such other obligations, that the same
will be promptly paid in full when due or performed in accordance with the
terms of the extension or renewal, whether at stated maturity, by acceleration
or otherwise. The obligations of the Guarantor to the Holders of Notes and to
the Trustee pursuant to the Guarantee and the Indenture are expressly set forth
in Article 15 of the Indenture and reference is hereby made to the
Indenture for the precise terms of the Guarantee. Each Holder of a Note, by
accepting the same, (a) agrees to and shall be bound by such provisions, (b) authorizes
and directs the Trustee, on behalf of such Holder, to take such action as may
be necessary or appropriate to effectuate the subordination as provided in the
Indenture and (c) appoints the Trustee attorney-in-fact of such Holder for
such purpose; provided, however, that the
Indebtedness evidenced by this Note Guarantee shall cease to be so subordinated
and subject in right of payment upon any defeasance of this Note in accordance
with the provisions of the Indenture.

Capitalized terms used but not defined herein have the
meanings given to them in the Indenture.

[REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK]

 9
 

 

IN WITNESS
WHEREOF, the undersigned has caused this notation of Guarantee to be duly
executed.

Date:  June 9, 2005

	
  

  	
  HARRAH’S ENTERTAINMENT, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Name:

  	
  Jonathan S. Halkyard

  
	
   

  	
  Title:

  	
  Senior Vice President and Treasurer

  

 

 10

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