Harrahs Entertainment, Inc.

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Harrah’s Entertainment, Inc. General I think one of Harrah’s greatest strengths has been its ability to stand the test of time. Coming from a single bingo parlor to an enormous entertainment company over the course of 50 years is no fluke. Harrah’s has definitely established a well-known name. Harrah’s in Las Vegas is basically considered a landmark. I believe they are known now for not only their name but for their reputation. They are viewed as a classic in Las Vegas, which I believe leaves them in good status. One of the problems with being a classic is not always being able to keep up with the times. This is one of Harrah’s weaknesses. At the time it was establishing itself, Harrah’s was quite innovative. However, as casinos expanded and added attractions, Harrah’s did not exactly keep up. They were solely focused on customer relations, which is not necessarily a bad thing. But as gambling cities like Las Vegas grew, tourists came not just to gamble, but also to see the sights. Hotels like The Mirage and MGM added animal attractions, spas, shows, and outrageous entertainment years ago. I think this will continue to be one of Harrah’s challenges in the next 5 years. They should expand their hotels to include more shows and attractions. I think that Harrah’s has been able to identify their problem areas and work on them. This is something they have done well. For example, the company knew that their operations and technology were great, but that they were lacking in the marketing area. After they identified this problem, they reached out to experienced marketing managers. Harrah’s had always focused on customer loyalty and, for a very long time, they thought this strategy was working in their favor. However, in 1998, they realized that Harrah’s customers were showing very little loyalty to the company. So they came up with new strategies

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