|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.