New UK Casinos not drumming up much interest
The Labour government looks set to face new criticism over its casino laws as potential bidders for the 16 new casinos throughout the UK appear to be shying away.
The new casinos will be bigger than ever and allow a larger number of profitable slot machines. The only problem is that the government are taking such a big cut out of profits the big casino operators are backing away.
Operators such as Gala Coral, Rank, Stanley Leisure, Ladbrokes and Genting are all reportedly now cutting back on their initial plans after the government will take 24p out of every pound of profit.
“The commercial viability is just not there any more,” said one unnamed former bidder.
“This has nearly wiped us out and has made the Government the biggest shareholder in UK casinos.”
The Casino Location Order is set to go in front of the House of Lords in the coming weeks, and if approved, the 16 new casinos (8 small, 8 large) will become lawfully legal.
The government now just needs people to run them.
Editor, Jackpot.co.uk - 2008-04-21 10:53:03