NO UK LAND CASINO PLANS SAYS LADDIES

25 January 2008

Ladbrokes calls off UK casino plans


Ladbrokes has confirmed that it has shelved plans for land casino activity in the United Kingdom, and will not be bidding for casino licence when the government makes available up to sixteen licenses later this year.

In a statement, a spokesperson for Ladbrokes said: “We have conducted a review of our casino strategy and have decided to withdraw from the process due to the length of time it would take to generate sufficient return on the capital spend required.”

Ladbrokes is a leading British bookmaker with a major presence in Ireland, and the decision is undoubtedly a blow for government plans to issue 16 new casino licensees to local authorities.

James Purnell, the UK's culture minister, is expected to announce in the next few weeks the formal burial of the proposed and highly controversial supercasino that was earmarked for Manchester. He will, however, give the go-ahead for eight large and eight small casinos.

The British government's increase in casino duty in last year's budget, the smoking ban and the removal of lucrative gaming machines, as required under the Gaming Act, have left casino operators nursing damaged businesses.

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