[size=2]Harrah's Entertainment Inc., the world's largest casino operator, announced plans last Thursday for a $485 million renovation and expansion of its Horseshoe Casino in Hammond, Ind.

The expansion, pending regulatory approval, would create a two-level riverboat by mid-2008 that more that doubles the size of the existing casino to some 108,000 square feet and adds a 2,500-seat theater and buffet on the second level of the boat 20 miles southeast of downtown Chicago.

Harrah's good fortune comes despite the loss of casino operations due to hurricanes Katrina and Rita. Harrah's New Orleans, closed by Hurricane Katrina, reopened in February, and the Grand Casino Biloxi in Mississippi is set to open its first phase later this year.

Harrah's Lake Charles' assets are being sold to Pinnacle Entertainment Inc. and its Grand Casino Gulfport in Mississippi is being sold to the operator of the Copa Casino.

The company is also moving ahead with plans for ventures in Spain, Slovenia and the Bahamas, and recently submitted a final bid for a multibillion dollar resort in Singapore.

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