Setting the TextAlign to one of the Center values is exactly what you need to do. The thing is, you probably haven't changed the AutoSize property from its default of True. As it stands the upper left corner of the Label will stay exactly where it is and, as the Text grows in length, the Label gets wider. The centre of the Text is always in the centre of the Label, exactly as you're asking for. The problem is that the centre of the Label is moving.
In order to get the appearance you want you need to set AutoSize to False so that the Width of the Label is constant.
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