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UK casino plans in tatters21 April 2008UNITED KINGDOM -- As reported by the UK This is Money: "The Government faces fresh embarrassment over its casino laws as potential bidders for the 16 new licences start to walk away from the process - just as the legal framework is finalised. "Casino groups Aspers, Gala, Rank, Stanley Leisure, Ladbrokes and Genting have all significantly cut back - and in some cases abandoned - their plans to make multiple bids for the new-style licences. "The Casino Location Order, part of the 2005 Gambling Act, is due to go before the House of Lords in the next few weeks where, if accepted, it will become law. "The 16 licences were created in a shakeup of Britain's gambling laws and most significantly increase the number of slot machines allowed from 20 to 80 for small casinos and 150 for large ones. "But hopes that they would attract millions for regeneration, create masses of jobs and boost the gaming industry are now under threat. "Last year, after an 18-month process run by the Casino Advisory Panel costing £400,000, a last-minute U-turn led to plans for a Manchester Supercasino being axed. "Even plans for the smaller casinos are at risk as bidders claim tax changes and a lack of joined-up thinking have left their businesses in tatters..." |