Harrah's Declines Comment on Reports of Talks

As reported by Reuters: "Harrah's Entertainment, the world's largest gambling company, declined on Monday to comment on weekend reports that it is interested in acquiring two British casino operators that are in the process of merging.

"The London Times reported on Sunday that the Las Vegas-based company was studying a proposal to buy Stanley Leisure Organization, which is in talks to acquire London Clubs International in a deal estimated at $1.2 billion.

"'We don't comment on market rumors,' Harrah's spokesman Alberto Lopez said on Monday.

"Bear Stearns analyst Joe Greff, in a research note on Monday, wrote that the acquisition could make sense, at the right price..."

2006-08-15