SEARCH NEWS:

 

Kerzner Expected to Expand Rhode Island Track

RHODE ISLAND – As reported by the Boston Herald: "An international gambling tycoon with potential casino designs will set up shop minutes from the Massachusetts border after emerging the victor in bidding for Rhode Island's Lincoln Park dog track.

"South African gambling magnate Saul Kerzner and his BLB investor group are expected to make major renovations and expand the Rhode Island racetrack, already a center for slot machines, to take on the trappings of a full-fledged casino, observers say.

"Best known locally as the financier behind the giant Mohegan Sun casino in Connecticut, Kerzner and his investor group were tight-lipped yesterday on their plans.

"…However, based on the $554 million that Kerzner and his partners are shelling out for Lincoln's British corporate parent, they may have no choice but to undertake a big expansion, said University of Nevada at Las Vegas gambling industry expert William Thompson.

"The deal values Lincoln, which generates 90 percent of Wembley Plc.'s revenue, at about $450 million. The pact also covers a number of less-profitable tracks in Britain.

"In order to make that money back rapidly, Kerzner and BLB will probably have to expand the racetrack's slot machines - now at more than 2,000 - to 3,000 or 4,000, Thompson said, citing standard gambling industry metrics…"

< Gaming News