TOKYO, June 9 Kyodo

Japanese department store operator Sogo Co. plans to close its store in Barcelona and rent the property to a company operating a casino, company sources said Wednesday. "The rental business will be profitable as revenue from the rent will be about three times as much as the store's sales," a senior Sogo official said. Barcelona Sogo was officially opened in September 1993 by participating in a development project to build a shopping center in Barcelona's coastal area. The store was partially opened in June 1992 prior to the start of the Barcelona Olympic Games. Barcelona Sogo, which mainly sells luxury items, has a sales area of 7,400 square meters. The sources also said Sogo has reached an agreement with local retailers in London to rent Sogo's London store which the Japanese firm has decided to close.

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