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England: Crunch leaves government casino plans in tatters

22 Dec 2008

LONDON, England -- As reported by The Times: "The country's leading gaming companies have scaled back plans to bid for the 16 new casino licences that were created last year, leaving the government's strategy for the industry in disarray.

"The economic crisis has proved the final nail in the coffin for most big operators, which were already questioning the viability of many of the proposed venues.

"British casino groups, including Rank, Gala Coral and Genting Stanley, all plan to bid for just a few of the new licences.

"Along with other key operators, such as London Clubs International (LCI), Aspers and the bookmaker Ladbrokes, all said they were expecting to pursue only a few licences.

"...The economic crisis has shaped their thinking, with most reluctant to commit significant investment in large-scale projects that are unlikely to generate a financial return for several years. None of the proposed new sites is expected to open before 2011..."

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