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Crown takes small stake in Harrah's20 February 2008AUSTRALIA -- As reported by the Sydney Morning Herald: "Crown Ltd is continuing its US expansion, revealing today that it has recently taken a small stake in US gaming operator Harrah's Entertainment Inc to build partnerships with a view to taking advantage of 'strategic opportunities'. "Crown chief executive Rowen Craigie said Crown was not looking for a large stake in Harrah's. "...Crown also revealed today that in the first half of fiscal 2008 it had invested $242 million in a 4.9 per cent stake in the Stations Casino Group, also in the US. "The casinos operator said today that it had invested $172 million in a 2.5 per cent stake in Harrah's. "...Crown also reported first-half operating profit totalled $211.4 million in its first result since controlling shareholder James Packer split his gaming and media assets into separate companies..."
Crown takes small stake in Harrah's
is republished from Online.CasinoCity.com.
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