Harrah's offers $530M for casino group

Big News Network.com
Thursday 31st August, 2006 (UPI)

The world's largest gambling firm, Harrah's Entertainment, is offering $530 million to buy London Clubs International, a British casino operator.

And LCI has recommended the proposal to its shareholders, the Telegraph reported Thursday.

Harrah's owns or manages 37 casinos in the United States under its own name, as well as the Caesars and Horseshoe brands.

LCI runs four London casinos and two other English casinos. It also two casinos in Egypt and one in South Africa, and recently it acquired five new British casino licenses for sites in Manchester, Leeds, Blackpool, Nottingham and Glasgow.

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