Casino group prepares for deregulation - 2004-03-05 London Clubs International got ready for a new era in the casino industry yesterday with a proposal to raise £49m towards bolstering its estate.
The group, which has seven casinos in the UK, wants the cash injection so it can benefit from the proposed deregulation of the gaming industry.
Around half of its investment will be made in the group's London sites - the Golden Nugget, Rendezvous and Sportsman - while casinos in Brighton and Southend and a site under construction in Manchester will also benefit. Read the full story at ic Wales
London Clubs makes £49m wish after Aladdin blow - 2004-03-05 London Clubs International, the casino operator that was brought to the brink by its disastrous Aladdin investment in Las Vegas, yesterday launched a deeply discounted £49m rights issue alongside a bank refinancing.
The company, which runs five London casinos including Les Ambassadeurs and the Rendezvous, said the funds from the 1-for-2 cash call at 70p a share would be used to capitalise on proposed gaming deregulation. The shares fell 7.25 to 109.5p. Read the full story at Telegraph.co.uk