Harrah’s Entertainment is said to be planning a takeover of 2 big casino operators in the UK in a bid to gain entry into the British gaming market.
Likewise, the region’s 2 casino operators, Stanley Leisure LLC and London Clubs International are in the middle of their own talks of a merger as they enter the final stages of their 634 million GBP union.
Harrah’s is reportedly studying a proposal to buy the 2 British casino companies. However, it is not clear whether the gaming giant will wait until the merger is complete before making a move.
According to an insider, a detailed appraisal of both companies has already been drafted. They also let on that it is more likely that Gary Loveman, Harrah’s Chief Executive, will wait until the merger is final before taking official steps.
Harrah’s is said to be looking to expand its casino gambling operations overseas in an effort to steer away from the rising construction costs in Las Vegas. The company has already made a deal to develop a casino resort in Slovenia and near Madrid.
Gaming industry analysts foresee that Stanley Leisure and London Clubs International combined will give Harrah’s the advantage it needs to carve out a European presence.
February 06, 2007