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UK
Casino Times
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News
28 July 2005
Bannatyne To Invest In New UK
Casinos
Millionaire
entrepreneur Duncan
Bannatyne plans to
spend £18m developing three UK
casinos once the
details of new gambling legislation are unveiled on
September 1.
Mr Bannatyne launched his
casino empire when he converted one of his health clubs on
Newcastle Quayside, which opened in February.
It has already attracted
over 5,000 members and generated £750,000
turnover.
The fitness club
owner-turned TV celebrity is looking to cash in on new laws
which will relax rules governing membership, advertising and
casino size.
Mr Bannatyne said: "We are
not looking at the huge super-size casino - we'll leave that
to the large international operators. But we are looking at
the next size down. We are negotiating to acquire two to
three sites at the moment and would spend around
£5m-£6m developing each site."
Government legislation,
passed before the election, will grant licences for 17 new
large casinos to be established around the UK from September
1, including one super
casino, eight
medium sized casinos and eight smaller casinos.
Paul Edwards, managing
director of Bannatyne Casinos, said: "At the moment gamblers
are only allowed to gamble at a casino if they have taken a
membership 24 hours in advance. This will change. There will
also be other relaxations, including on advertising which
will enable on-shore casinos to compete more effectively
with on-line gambling providers domiciled offshore. The
changes will be phased, though, and it remains to be seen
which of the changes will be coming in straight away. How
quickly the changes are fully implemented will dictate the
speed of the roll-out."
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