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Gala Interested in Assets of London Club International29 November 2001UNITED KINGDOM -- As reported by the (U.K.) Times: "Gala Group, the privately owned gaming company, admitted yesterday that it might be interested in some of the assets of London Clubs International (LCI), the troubled casino operator. "LCI's attractions as a takeover target were boosted earlier this month when it extricated itself from any further financial obligations from Aladdin, the Las Vegas resort that recently entered Chapter 11 bankruptcy protection. "John Kelly, Gala's chief executive, admitted that he was `always looking at casino assets' that might fit with the Ladbrokes Casinos business acquired by Gala a year ago for £235 million (US$335 million). "…Analysts believe that in addition to Gala, interested parties include William Hill, the bookmaker, and Sun International, the South African hotel and gaming group founded by Sol Kerzner…" |