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Goldman Sachs buying 4 Nevada casinos

April 24, 2007 at 8:20 AM   |   Comments

NEW YORK, April 24 (UPI) -- Goldman Sachs, the Wall Street investment giant, has agreed to buy four Nevada casinos from investor Carl Icahn for $1.3 billion.

The move followed Morgan Stanley's $74 million purchase last year of a beachfront casino site in Atlantic City, N.J., the Financial Times said Tuesday.

Morgan Stanley also has an 18 percent stake in Trump Entertainment Resorts and Goldman a stake in the Las Vegas Hilton.

Banks are reported seeking a greater role in the booming gambling business after long serving as a big lender to the industry.

© 2007 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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