Casino Bingo UK News

Source: http://today.reuters.co.uk/news/articlebusiness.aspx?type=businessNews&
storyID=2007-02-19T162431Z_01_L19221327_RTRUKOC_0_UK-LADBROKES
-SUPERCASINO.xml

LONDON (Reuters) – Ladbrokes could announce an interest in running Britain’s first Las Vegas-style supercasino when it unveils its 2006 results this week, an industry source said on Monday.

Last month, Manchester was the surprise winner of a competition to host the supercasino, which although small by Las Vegas standards, is likely to be huge in UK terms, with 5,000 square metres of gaming space, 1,250 slot machines and 2,700 workers.

“One of the reasons Ladbrokes took full ownership of the Paddington casino earlier this year was to get operationally ready for the new licences,” said the source, referring to Ladbrokes’ first recent casino venture, adding that nothing was certain until the government has clarified bidding criteria.

The group is also likely to broadly outline plans for 16 other casino licences the government will soon make available, said the source. Ladbrokes declined to comment.

Profit before tax for 2006 will be between 235 million pounds and 240 million, according to a company poll of 10 investment banks.

Analysts at Numis Securities said the shares could be buoyed by any news of Ladbrokes’ expansion plans in Italy and Spain and details of either a deal to buy online gaming group 888 or of a return of cash to shareholders.

Ladbrokes said in November it was considering a bid for 888.com, and last week 888 Chief Executive Gigi Levy told Reuters there was “desire on both sides to continue talks”.

Ladbrokes could be the only UK company bidding for the licence to run the Manchester supercasino, after privately owned Gala Coral ruled itself out this month, and with Rank keeping its plans secret.

Former UK rivals London Clubs and Stanley Leisure are now under foreign ownership, having last year been bought by Harrah’s and Genting respectively.

Harrah’s, the world’s largest casino operator, does plan to bid for the Manchester licence, a source said on Friday. So too does its close rival Las Vegas Sands. But like Rank, Genting is keeping its cards close to its chest.

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Source: http://www.reuters.com/article/bondsNews/idUSL1691077320070216

LONDON, Feb 16 (Reuters) – The world’s biggest casino operator Harrah’s Entertainment would like to run Britain’s first Las Vegas-style casino in Manchester, but is wary of the “winner’s curse”, a company source said on Friday.

Last month, Manchester was the surprise winner of a competition to host the “supercasino”, which although small by Las Vegas standards, is likely to be huge in UK terms, with 5,000 square metres of gaming space, 1,250 slot machines and 2,700 workers.

The winner is also expected to help with local regeneration projects.

“Harrah’s would like to run the regional casino, but it has to make economic sense,” said the source.

“Let’s not get carried away with plans for new convention centres, motorways and airport terminals — or the winner could end up with a winner’s curse.

“The business plan has to work, but Manchester Council is very business savvy and will hopefully know how to weigh this up.”

Harrah’s rival Las Vegas Sands says it would also like to build a $760 million casino resort in Manchester, while industry sources say Bahamas-based operator Kerzner International hopes to invest $500 million there.

But the Harrah’s source said it was too early to come up with sensible numbers.

Last December, Harrah’s completed its $530 million acquisition of London Clubs International, gaining a foothold in Europe which it aims to expand.

“Caesars in Spain should open in 2009, and Harrah’s is looking to expand elsewhere in Europe — that was the reason for buying London Clubs,” said the source.

Apart from the regional “supercasino”, Britain also plans sixteen smaller casinos — eight with 150 slot machines each and eight with 80 each. “We’ll look at those and most likely bid for all of them, but only once we know more about the process,” said the source. “Bath, with its Regency background, looks interesting and the kind of venue we’re good at.”

“We’re in all spectrums of the market, from Fifty at the top end to mid-tier casinos like Leicester Square, which will open at the end of April or in the first week of May.”

Other likely bidders as Britain opens its casino industry are Malaysia’s Genting, Britain’s Rank and Ladbrokes .

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