FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person *   Peterson Karl Mr. 2. Date of Event Requiring Statement (Month/Day/Year) 01/28/2008 3. Issuer Name and Ticker or Trading Symbol HARRAHS ENTERTAINMENT INC [N/A] (Last) (First) (Middle) C/O TPG CAPITAL, L.P., 345 CALIFORNIA STREET, SUITE 3300 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) SAN FRANCISCO, CA 94104 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Peterson Karl Mr. C/O TPG CAPITAL, L.P. 345 CALIFORNIA STREET, SUITE 3300 SAN FRANCISCO, CA 94104	  X	Â	Â	Â

Signatures

/s/ Clive D. Bode on behalf of Karl Peterson (1)		02/07/2008
**Signature of Reporting Person		Date

Explanation of Responses:

No securities are beneficially owned
*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
  Remarks: (1) Clive D. Bode is signing on behalf of Mr. Peterson pursuant to an authorization and designation letter dated February 7,  2008, which is attached here as an exhibit. Karl Peterson is currently a Partner of TPG Capital, L.P.  TPG Capital, L.P. is affiliated with Co-Invest Hamlet Holdings,  Series LLC; Co-Invest Hamlet Holdings B, LLC; TPG Hamlet Holdings B, LLC; and TPG Hamlet Holdings, LLC (collectively, the  "TPG Non-Voting Stockholders"), which are direct owners of 31,387,726 shares of Non-Voting Common Stock, par value $0.01 per  share and 15,351,275 shares of Non-Voting Perpetual Preferred Stock, par value $0.01 per share, of Harrah's Entertainment,  Inc. Karl Peterson is also an officer of Hamlet Holdings LLC, which owns all of the issued Voting Common Stock, par value  $0.01 per share, of Harrah's Entertainment, Inc. Karl Peterson disclaims beneficial ownership of (i) all of the Non-Voting  Common Stock and Non-Voting Perpetual Preferred Stock that is or may be beneficially owned by the TPG Non-Voting  Stockholders or TPG Capital, L.P. and any of its affiliated funds and (ii) all of the Voting Common Stock that is owned by  Hamlet Holdings LLC.   This report shall not be deemed an admission that Karl Peterson is the beneficial owner of or has any  pecuniary interest in such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for  any other purpose.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

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