Hotel Online Special Report
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Four Top Executives of Horseshoe Gaming Agree 
to Join Hollywood Park
Team Will Bring Extensive Gaming Development And 
Management Expertise to Hollywood Park
 
INGLEWOOD, Calif., Sept. 11, 1998 -  Hollywood Park, Inc. (NYSE: HPK) today announced that it has entered into contractual agreements with Paul Alanis, J. Michael Allen, Loren Ostrow and Cliff Kortman to join Hollywood Park upon termination of their existing employment agreements with Horseshoe Gaming L.L.C. Three of such contracts expire by year end, and Allen's contract expires in May 1999. All of the individuals, who have been with Horseshoe Gaming since its inception more than five years ago, have been instrumental in the development and management of Horseshoe Gaming's two highly successful casinos in Bossier City, Louisiana and Tunica, Mississippi, both of which are the highest-grossing and most profitable casinos in their respective markets.

Alanis, who has served as President of Horseshoe Gaming for the last three years, will assume the newly created position of President and Chief Operating Officer at Hollywood Park and will be responsible for overseeing all operations, with particular emphasis on Hollywood Park's rapidly expanding gaming division.

Allen has served as Chief Operating Officer of Horseshoe Gaming for more than two years and will assume the newly created position of Senior Vice President and Chief Operating Officer of Hollywood Park's gaming division. With more than 25 years' experience in the gaming industry, Allen will be responsible for ensuring consistent quality and operating results at the various Hollywood Park gaming facilities.

Ostrow, Senior Vice President and General Counsel of Horseshoe Gaming, and Kortman, Vice President in charge of construction and development, will assume similar newly created positions within the gaming division of Hollywood Park.

"These are exciting times for Hollywood Park," stated Alanis. "I already see many opportunities in the months and years to come to significantly enhance shareholder value at Hollywood Park. As a team, management will be committed to attaining that objective. We will continue to pursue Hollywood Park's carefully conceived strategy of consolidation within emerging gaming jurisdictions, as well as bring the capability to create first-class new developments in these profitable emerging jurisdictions."

R.D. Hubbard, Hollywood Park's Chairman and CEO, added, "We are extremely fortunate to be acquiring such aquality management team with a proven track record. Their backgrounds and extensive experience will greatly improve Hollywood Park's ability to identify and acquire undercapitalized but profitable acquisition candidates. Most importantly, they bring the expertise to Hollywood park to ensure higher levels of operating efficiency and quality in all of Hollywood Park's existing and future gaming properties."

As part of these management changes, Timothy J. Parrott will resign his position as Chairman/CEO of Hollywood Park's Boomtown division. Parrott will continue to serve as a member of Hollywood Park's Board of Directors and the Executive Committee. Donald M. Robbins will continue to serve as President of Racing Operations. G. Michael Finnigan will continue as Chief Financial Officer and will serve as President of Hollywood Park's real estate development, which will encompass all non-gaming operations.

Hollywood Park Inc., headquartered in Inglewood, Calif., is a gaming and entertainment holding company. It owns and operates Boomtown, Inc., with casinos in Reno, Nev., Biloxi, Miss., and New Orleans; the Hollywood Park Race Track, situated on 378 acres near the Los Angeles International Airport, one of America's premier thoroughbred racing facilities and site of the 1997 Breeders Cup(R); Turf Paradise Inc., a premier thoroughbred racing facility in Phoenix. Ariz.; and the Hollywood Park -_ Casino. The company owns and leases to a third party the Radisson Crystal Park Hotel and Casino in Compton, Calif., and manages a casino in Toppenish, Wash. On behalf of the Yakama Indian Nation. Hollywood Park is in the process of completing its acquisition of Casino Magic Corp., which wholly owns and operates four casinos_one in Bossier City, LA (adjacent to the Horseshoe Casino Hotel); two in Biloxi, Miss. and one in Bay St. Louis Miss. It is also majority owner and operator of two casinos in Argentina.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in forward-looking statements made by or on behalf of the Company, including statements related to the company's future performance. For more information on the potential factors that could affect the Company's financial results, review the Company's filings with the Securities and Exchange Commission, including the Company's annual report on Form 10-K and the Company's other filings with the SEC, including the Company's Joint Proxy/Prospectus dated September 20, 1996 and February 13, 1998.

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Contact:
R.D. Hubbard, Chairman and CEO, 
or G. Michael Finnigan, President, 
Sports and Entertainment, CFO, 310-419-1539; 
or General, Larry Delaney, 
310-442-0599, 
Analyst, Kathy Brunson, 
312-266-7800, 
or Media, Michaelle Burstin, 
310-442-0599, 
all of The Financial Relations Board
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Also See:
Hollywood Park Board of Directors Retains Existing C Corp. Structure as Vehicle for Growth / July 1998 
Hollywood Park and Casino Magic Corp. Announce Plan to Merge / Feb 1998 

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