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London Clubs International (LCI) owns gambling clubs and uk casinos in London. Some of clubs are the Rendezvous, Fifty and the Golden Nugget among others. It also owns gambling clubs elsewhere in England and in Egypt and South Africa. It has been publicly traded on the London Stock Exchange since 1994 and it main business is operating casinos. The company has received a buyout offer from Harrahs Entertainment, which is the largest casino operator in the world. The buyout has been approved by the Office of Fair Trading. Harrahs shareholders have until October 17 to approve the ₤280 million deal.
Harrahs, itself the subject of a buyout offer, is looking to enter the United Kingdom market in time for the gambling deregulation which becomes effective in 2007. The Gambling Act does away with the club membership requirement. Under the current law, people have to belong to private gambling clubs in order to gamble. They can’t just walk into a uk casino and gamble. When the new law becomes effective, this will change, although the ban is supposed to be lifted earlier. Casinos will be able to expand their facilities and advertise to attract customers, who don’t have to be members. The law also allows for the establishment of a Las Vegas style casino in the U.K.
The new law opens up the lucrative U.K. gambling market which is why all of the major players have been jockeying for a position. U.K. players spent approximately ₤40 billion on betting last year. For playing more games you can also log on to bingo online games. Rooms are nice, but the casino floor is dirty, crowded with disapointed paeople and just not good anymore. The old style machines were great when they had them. The new digital ones really really suck. Not much in the way of even playing on a 100.00 for any length of time.
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