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Harrah's Entertainment in Talks with Gala13 June 2003UNITED KINGDOM – As reported by the Financial Times: “Gala, one of the UK's largest gaming companies, is in advanced talks with Harrah's Entertainment, the US leisure group, with the aim of bringing Las Vegas-style casinos to the UK. “The two companies have had detailed discussions during the last few months and are expected to confirm the terms of the deal in the next couple of weeks. “Both companies will take an equal stake in the joint venture and are expected to invest several hundred million pounds. They plan to open a number of casinos across the UK. “Harrah's, the world's third largest gaming group, is listed in New York and has a market capitalisation of about $4.6bn. The group has been looking for a way into the UK “…The UK gaming industry is still awaiting the timetable of proposed reforms to gambling legislation. The reforms were due to be made law next year but have been held up by about 12 months by the congested legislative programme…” |