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Harrah's Buys British Casino Operator

September 01, 2006|From the Associated Press

Harrah's Entertainment Inc. said it would buy London Clubs International for $530 million, a deal analysts hailed as a strategic move to expand overseas and perhaps benefit from deregulation in Britain.

London Clubs operates six casinos in Britain and has five more under development. It also operates casinos in Egypt and South Africa and has a consulting stake in another in Lebanon.

Las Vegas-based Harrah's is the world's biggest casino company, operating and managing about 40 properties.

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