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Harrah's Eying Stanley Leisure and London Clubs International
Harrah's Entertainment, the world's largest gaming company, is reportedly looking to take over 2 major casino operators based in the UK in an effort to break into the British market. Harrah's, whose net worth is pegged at around GBP 6 billion, is said to be studying a proposal to acquire Stanley Leisure LLC and London Clubs International, 2 big gaming operators in the UK. These 2 companies which are targeted for a takeover are also in the midst of their own talks of a merger.
Stanley Leisure LLC is the operator of numerous gambling casinos around Britain, including The Colony Club, The Mint and The Palm Beach in London. They also have 41 sites in cities that include Bristol, Liverpool and Birmingham.
Meanwhile, London Clubs International (LCI) operates 4 casinos in London, including The Sportsman and the Rendezvous in Southend and Brighton. Likewise, LCI plans to open casinos in Manchester, Leeds, Blackpool, Nottingham and Glasgow in Scotland.
According to sources in the gambling industry, the Las Vegas based Harrah's has already put together a detailed appraisal of both Stanley Leisure and LCI.
Harrah's is said to be keen on expanding its overseas operations in an attempt to steer away from the growing construction costs in Las Vegas.
Wednesday, February 14 , 2007
Brian Letendre