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Harrah's Gets Busy in Reno

Chairman and CEO Phil Satre said that the two properties are "as critical pieces to our future strategy for Harrah's Reno." He continued, "Harrah's has been and remains committed to Reno and to the renaissance of its downtown. Bill Harrah played a big part in the birth of The Biggest Little City In The World. Now, the company he founded would like to play an important role in his town's revitalization."

Satre believes the city of Reno needs to preserve its core casino entertainment economies and simultaneously stimulate progress in order to compete in today's tourism industry.

"We are in the midst of master-planning our Harrah's Reno property with Marnell Carrao Associates, and we will now incorporate this real estate into that process," Satre said. "I would expect the master plan will not include remodeling these two buildings, but rather extending the Harrah's Reno property onto this additional real estate with added casino attractions and amenities.

Steve Yarrow, senior vice president and general manager of Harrah's Reno, credits the hard work of many people who kept the over two-year old land acquisition project moving forward. "I want to give credit to many of our employees who have endured this extended period required to reach closure on this transaction. It is gratifying to all of us to finally to see the project come to fruition."

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