Casino Choice UK News Archive
Harrah’s tables $533 million bid for London-based casino company
This is the second takeover bid for a UK gambling company in less than a week, as the international gaming giants begin to set their sights on the UK gaming industry. Stanley Leisure plc announced they too have received a bid approach though they have not name the bidder. It seems the UK gambling scene may not be UK-owned for much longer.
Shares in both Stanley Leisure and LCI jumped dramatically after the takeover bids were made public. In the case of LCI Harrah’s offered 125 pence per share; a 25 percent premium on last Wednesday’s closing share price.
These bids show that the big international gaming companies are planning to seriously invest in the UK market, no major surprise since the Gambling Act 2005 significantly relaxed the rules on casinos. The possibility of even further deregulation makes the UK one of the best prospects for gaming investment in the western world. It is an opportunity the big boys of the gaming industry are not prepared to miss.
Shares in both Stanley Leisure and LCI jumped dramatically after the takeover bids were made public. In the case of LCI Harrah’s offered 125 pence per share; a 25 percent premium on last Wednesday’s closing share price.
These bids show that the big international gaming companies are planning to seriously invest in the UK market, no major surprise since the Gambling Act 2005 significantly relaxed the rules on casinos. The possibility of even further deregulation makes the UK one of the best prospects for gaming investment in the western world. It is an opportunity the big boys of the gaming industry are not prepared to miss.
Submitted: 2006/09/05 at 12:13:40
