Harrah's buys London casino operator

2006-08-31 17:50:00

Harrah's Entertainment has agreed a deal to buy the British-based casino operator, London Clubs International.

Harrah's, the company behind this month's World Series of Poker main event, is expected to pay £279 million for the firm, with runs four casinos in the capital as well as two sites at the coastal resorts of Brighton and Southend.

London Clubs has also recently bought five new licenses for proposed sites in Blackpool, Leeds, Manchester, Nottingham and Glasgow and owns a casino in both South Africa and Egypt.

"London Clubs International has one of the leading positions in the UK casino market and, through the new licences that it has recently been awarded, will be able to further enhance its position," commented Harrah's chief executive Gary Loveman.

The US firm currently owns or runs some 37 casinos in North America, using the Harrah's, Horseshoe and Caesars brand names, with Caesar's Palace in Las Vegas its flagship establishment.