Sunday, September 26, 2004

Big Guns Come a-Blazing to Build Britain's New Vegas

Even before the new gaming bill comes into play, overseas casino giants are already making plans to come to these shores and build their casinos.

Last week, Malaysian gaming giant, Genting, bought the exclusive Maxim's Casino in London from Gala Casinos, adding to its current 15% stake in London Clubs International (LCI). This increases their share in the UK market to 13 from 9.

However, until the bill to deregulate the industry goes through, the analysts aren't jumping up and down yet.

This also applies to Aussie gaming mogul, Kerry Packer - Australian's richest man - as he has just announced a £300 million assault on the UK casino market. Packer is planning 5 casinos in the UK under the brand name 'Aspers' as he joins forces with Damian Aspinall.

These ventures are the latest in a long line of casino giants that have already staked their claims to the potential millions that may come with gaming deregulation. US companies Harrahs and MGM Mirage and the South African, Kerzer International have been sniffing around the UK for a while now, buying potential property and land and forming joint ventures with UK operators.

It appears everyone is thinking the UK is in line to be one big Vegas strip. However, until this gambling bill finally goes through, I'd hang on to my pennies...

posted by jo @ 11:27 PM   0 comments

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