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Casino News: WSOP 2007, Payout Schedule, Main Event

May 9, 2007.

World Series Of Poker Revises Payout Schedules For 2007 Events.

WSOP 2007 Most players who finish in the money in 2007 World Series of Poker events will receive a higher percentage of the prize pools than last year, WSOP officials said yesterday. Moreover, the distribution percentages of the tournament prize pools will be changed to award even more players who participates in the events.

“We are increasing the return to players who, after hours or days of grueling competition, are able to reach the money,” said Howard Greenbaum, regional vice president of specialty gaming for Harrah's Entertainment. “Our goal is to keep more money circulating among more people in the poker community.”

With a total gross prize pool of more than $171 million and in excess of 48,000 player registrations, the 2006 World Series of Poker presented by Milwaukee's Best Light shattered every participation and prize money record for a live poker event. The first prize for the $10,000 buy-in No Limit Texas Hold'em World Championship, referred to as the Main Event on the WSOP, reached $12 million.

For the third straight year, the Rio All-Suite Hotel & Casino (R) in Las Vegas will host the WSOP, as well as the annual Gaming Life Expo on July 5-8. A free consumer show featuring exhibitors from around the globe, the 2007 World Series of Poker Gaming Life Expo will showcase a broad array of gaming and poker products, memorabilia, books and clothing. In 2006, more than 100,000 people visited the Expo.

While the final payout schedule for each event depends on the final number of participants, a comparison of the actual payouts for the 2006 Main Event with what they would have been under the new payout schedule illustrates the differences. Overall, 846 players last year would have won substantially more money - in some case, more than double - what they collected in 2006. The top 27 players would have received less, however.

For example, the 2006 Main Event would have paid $22,266 for 873rd through 775th places, up from $14,605 or $15,512. Places 82 through 73 would have paid $126,173, up from $66,010. First place would have paid $10,028,715, down from $12 million, while second place would have been worth $5,442,769, compared with $6,105,900.

“We discussed this concept with our poker operations team and with members of the WSOP Players Advisory Council and the consensus was that spreading the wealth is the right thing to do,” said Greenbaum. “The new schedules are designed to increase the rewards to players who finish in the money but don’t reach the final table.”

The new payout schedules are posted at www.worldseriesofpoker.com and indicate the percentage payouts for different numbers of players for different games. The 2007 World Series of Poker Presented by Milwaukee's Best Light will begin June 1 at the Rio (R) All-Suite Hotel & Casino in Las Vegas, Nevada, USA.

The WSOP is operated by a subsidiary of Harrah's Entertainment, Inc. (NYSE: HET). Harrah's is the world's largest provider of branded casino entertainment through its operating subsidiaries. Since its beginning in Reno, Nevada, nearly 70 years ago, Harrah's has grown through development of new properties, expansions and acquisitions, and now owns or manages casinos on four continents. The company's properties operate primarily under the Harrah's®, Caesars® and Horseshoe® brand names; Harrah's also owns the London Clubs International family of casinos. Harrah's Entertainment is focused on building loyalty and value with its customers through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership. For more information about Harrah's please visit the following Web site www.harrahs.com

Source: Official World Series of Poker website (www.worldseriesofpoker.com)


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