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Chips Down for London Clubs21 December 2001LONDON, United Kingdom – Dec. 21, 2001 –As reported by Reuters: " Casino operator London Clubs International (LSE: LCI.L) has said it is still in talks with banks about servicing its debts and that it has not received any approaches from prospective buyers. "The firm, which runs casinos in Britain, South Africa, Egypt and Lebanon, said it took a hit of 99.8 million pounds in the six months ended September 30, as it wrote down its investments in bankrupt Las Vegas mega-resort Aladdin. "…London Clubs freed itself from any further financial obligations to Aladdin in November. Its net debt stood at 234 million pounds (US$336 million) on September 30. "…Britain's Stanley Leisure, Rank Group and privately owned Gala Group have all shown interest, while U.S. gaming giants Park Place Entertainment and MGM Mirage are also looking to enter the UK market. "But a spokesman for London Clubs told Reuters the firm was not currently in talks with any prospective buyers…" |