Exhibit 99(1)


          Ralph Berry, The Promus Companies
          (901) 762-8629



                         PROMUS ANNOUNCES THE SATISFACTION OF
                         ------------------------------------
                         CONDITION TO SPIN-OFF HOTEL BUSINESS
                         ------------------------------------


               MEMPHIS,  June 14, 1995 -- The Promus Companies Incorporated
          (NYSE:PRI)  today  announced   the  satisfaction  of  the   final
          conditions to the spin-off of its wholly-owned subsidiary, Promus
          Hotel Corporation (NYSE:PRH).

               On May 26, 1995,  stockholders of Promus approved the  spin-
          off and Promus' Board of  Directors declared a dividend of shares
          of Promus Hotel conditioned upon the occurrence of certain events
          prior to June 19, 1995.  The Executive Committee of Promus' Board
          has determined that  all necessary events have occurred  and that
          the conditions to  the dividend have been satisfied:   First, the
          gaming regulatory authorities of the State on New Jersey approved
          the spin-off on May 31, 1995.  Second, the holders of  a majority
          of the outstanding  aggregate principal amount of each  of the 10
          7/8  percent Senior  Subordinated Notes  due 2002  and the  8 3/4
          percent Senior  Subordinated Notes  due 2000  of Embassy  Suites,
          Inc.  consented to  certain indenture  amendments  to permit  the
          spin-off.   Third, on  June 7, 1995,  Promus, Embassy  and Promus
          Hotel  entered  into  Credit  Agreement  with  NationsBank,  N.A.
          (Carolinas)  and  NationsBanc  Capital  Market,  Inc.  to provide
          Promus Hotel with financing  of up to  $350 millon.  Fourth,  all
          other material third party consents have been received.

               Stockholders will receive one share of the new hotel company
          for  each two shares  of The Promus  Companies owned  on June 21,
          1995, the record date for the dividend,  The Promus  Hotel shares
          will be  distributed on  June 30,  1995,  and, on  that date  The
          Promus  Companies will change its name it Harrah's Entertainment,
          Inc. (NYSE:HET).   It  is currently  anticipated that the  Promus
          Hotel  common stock and  the Harrah's Entertainment  common stock
          (ex-distribution)  will  each  begin trading  on  a "when-issued"
          basis on the New York Stock Exchange on or before June 19, 1995.