UK casino applications approved
As the rush to submit casino applications heats up before new gambling regulation comes into force next April, the Gambling Commission has stated that they have so far dealt with 29 applications and approved all of them.
Though good news for bidders, this is only the first step towards achieving a granted casino licence. Now, casino operators must gain approval from local authorities, which is historically a much more difficult hurdle to clear. Operators are required
to prove that there is local demand for a casino and that it will benefit the local economy as a whole. A London gaming executive explains.
“There's currently about a 40 percent success rate," said the London gaming executive. "As of this week, 23 cases had been dealt with by the (local) gaming licensing authorities in 2006, with 10 of them granted, 11 refused and two withdrawn."
There are currently 140 casinos in the U.K, with this number inevitably rising after new gambling legislation comes into law next year. However, analysts are worried that the clamour to get licences could lead to a situation of over-supply. This number could rise to around 190 if all current applications are approved.
The U.K’s gambling market has become any attractive proposition for many international firms, foreseeing the relaxing of gambling laws. U.S casino group Harrah’s recently entered the market through the acquisition of London Clubs International with Malaysian firm Genting purchasing Stanley Leisure for £639m back in September.
Editor, Jackpot.co.uk - 2006-11-24 10:42:34