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Packer to Recoup Casino Investment

AUSTRALIA – As reported by the West Australian: "Kerry Packer is poised to recoup $3 million (US$2.3 million) of his investment in Burswood on the back of a profit recovery which has also sparked renewed speculation about a takeover bid by the billionaire.

"Just four weeks after flagging a $23 million first half profit, the casino operator revealed it had in fact made $24.1 million for the six months to December 31, thanks mainly to a new range of electronic games and a lucky run against international gamblers.

"The result, which compared with just $4.5 million for the same half in 2002, supported the declaration of a 4¢ a share interim dividend, with Mr Packer's Publishing & Broadcasting to bank $3.05 million based on its 15.7 per cent holding…"

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