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Australian casino chain expands in Las Vegas

Associated Press,  Thursday, December 13, 2007 at 10:39:04 AM

Australia’s largest casino company, Crown Ltd., said it agreed to buy Cannery Casino Resorts for $1.75 billion, expanding its business in Las Vegas. Cannery Casino, which is privately held, operates three Las Vegas casinos, including the Cannery Casino and Hotel and the Nevada Palace casino, and the Meadows Racetrack and Casino south of Pittsburgh.

This month, Publishing and Broadcasting Ltd. split into separate listed companies, Crown and Consolidated Media Holdings Ltd. A private company led by James D. Packer, above, Consolidated Press Holdings Ltd., owns 38 percent of Crown’s stock.

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