Harrah's

(HET)

bid $530 million for London Clubs International.

The London Clubs board has unanimously recommended that its shareholders accept the offer. If the offer is successful, Las Vegas-based Harrah's expects the transaction to close in the fourth quarter of 2006.

London Clubs International currently operates six casinos in the U.K. and has an additional five under development. London Clubs also operates two casinos in Egypt, one in South Africa and has a consulting relationship with a casino in Lebanon.