Harrah's misses financial targets
By maddy
Harrah's Entertainment Inc, the No. 2 U.S. casino operator, on Wednesday posted a lower fourth-quarter profit due to higher gaming taxes and costs of developing new casinos.

The casino operator which earlier disclosed plans to expand into the UK regional casino market, said the cost of launching a new subscription-based online gambling website for the UK market also impacted fourth-quarter earnings.

Net income fell to $35.4 million from $53.9 million, a year earlier. Revenue rose to $1.04 billion from $1.01 billion a year earlier.

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