Isle Applies Under Existing Laws As Reconstruction Continues
Isle of Capri, the riverboat operator from Mississippi, has lodged an application with Coventry's licensing magistrates for a casino, which hopes to open before the introduction of the huge super casinos of the new era.
Capri does, however, want to turn it into the UK's first regional super casino once the new gaming laws have been passed.
The group, which runs 14 casinos in Biloxi, expects the smaller casino to open in 2006, creating at least 200 jobs ad attracting between 700 and 800 visitors a day. The entrance is to be lavishly designed with waterfalls and escalators suitable for the larger casino, which would hope to attract 3000 visitors a day to enjoy its gaming, restaurants, including an up market a la carte dining room, and other entertainment.
The Arena Coventry project is a joint venture between Coventry City Council and the Higgs Charity. It includes a new stadium for Coventry Football Club, an exhibition centre, a hotel and a health club which are almost complete and due to open in the autumn of 2005, but the casino is seen as being the key element.
It represents something of a gamble as despite there being little guarantee of a regional licence, work has already started on creating an underground space big enough to hold a super casino with 90,000 sq ft of gaming and entertainment area.
John Brackenbury, non executive director of Isle of Capri Casinos Inc, said that he firmly believed that the stadium project would be able to fulfill its regional aspirations adding that he believes the scheme is well placed to win one of the licences for a super casino because it meets all the government's criteria for regenerating run down areas.
"The granting of gaming licence under the existing legislation would allow Capri to open the casino next year according to the original plan," he explained. "It would also serve as the first step in the process to position the Isle of Capri property for a regional gaming licence under the proposed Gambling Bill. I'm very excited about it and just want to make sure we can produce for Coventry the best answer on that area which has been totally under developed."
The concept of regeneration is certainly at the heart of the project.
John McGuigan, director of City Development at Coventry City Council, said: "The Arena Coventry project is key to our strategy of boosting Coventry's economic prosperity by investing in quality leisure facilities. Along with the new Tesco store and stadium, the casino plays a vital role in securing the economic viability of the regeneration, enabling us to attract funds from the Higgs Charity, EU structural funding and regional public investors."
"A green light for a regional casino, under the proposed Gambling Bill, would help to secure the creation Of 1200 new jobs," he added. "Isle of Capri and the casino element of the development were assessed carefully by both the Coventry City Council and The Higgs Charity before we gave them our backing. We know from our project research that there is a demand for entertainment in the area. Isle of Capri's casino is the heart of our plans, helping attract more visitors to our site and enabling us to create a full leisure offering."
Brackenbury added:" The Arena Coventry will achieve so much. It is a wide ranging development, regenerating a major area of North Coventry with state of the art facilities in one complex. It is a credit to the spirit of partnership that has driven this project through."
