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WSOP Poker Host Harrah's acquires London Clubs InternationalFri, Nov 10th, 2006 @ 12:00am Harrah's, host of the World Series of Poker (WSOP) and the world's largest casino owner and operator, announced that London Club shareholders have accepted Harrah's latest offer of $570 Million to buy a majority holdings of London Clubs International. Harrah's has said it hopes to complete 100% purchase of London Clubs shares by the end of the year. London Clubs operates 7 casinos in the U.K and has 4 other casinos being developed. They also manage 2 casinos in Egypt, a casino in South Africa, and have a consulting agreement with a casino in Lebanon. On October 20, a subsidiary of Malaysia's Genting International agreed to sell its nearly 30% stake in London Clubs to Harrah's at the higher price of 1.35 pounds per share, making Harrah's majority acquisition possible. The deal means Harrah's will pay $570 million for London Clubs, an additional $40 million above their original offer. The UK is licensing and regulating its gaming industry beginning 2007, which includes plans to approve larger Las Vegas-style 'supercasinos'. Before Harrah's purchase, London Clubs was already a strong contender for a UK supercasino license. Harrah's brand, depth and experience can only strengthen their bid. Analysts viewed the London Clubs deal as way for Harrah's, which operates 39 casinos in 13 states, to expand its international presence. The company previously announced plans to build casinos in Slovenia and Spain. Harrah's had been unsuccessful gaining a foothold in Asia to date. Harrah's withdrew its joint bid for a casino in Singapore in October. And they are still trying to enter the lucrative Macau market. But with the pending acquisition of London Clubs, Harrah's will not only add to their international portfolio, but also gain expansion opportunities in the UK market and a platform for further international expansion. "The strong collection of London Club properties would put Harrah's in a strong position to take advantage of the evolving regulatory framework in the United Kingdom," Harrah's Chairman Gary Loveman said. "The multinational operational experience of the London Club's management strengthens Harrah's existing team, enhancing the success for international expansion opportunities." See Related Article: Harrah's Ponders $15.1 Billion Buyout
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Do Online Poker Players Want Obama, Not McCain? With the presidential election right around the corner, the online poker world finds itself entrenched in legal battles. Who will we turn to in order to obtain our poker freedom? According to research conducted by Duplicate Poker, online players seem to prefer Barack Obama over John McCain at nearly a 2-1 clip.
Sweden Undecided Whether Online Poker to Remain Gov't Monopoly Sweden has repeatedly been under fire from the European Commission to comply with EU laws that give EU-based operators free movement of goods and services between EU member countries. Today, Gambling Intelligence Group relayed that Jan Nyren, who is conducting Sweden's gambling investigation, will propose in his final report due in December that Sweden introduce a licensing system for online sports betting providers. But he says he has yet to decide whether to recommend online poker be opened to competition or remain the government monopoly of Svenska Spel.
World Series Of Poker Academy Debuts in LA Sept. 6-7 at The Bicycle Casino The World Series of Poker Academy, poker's premier series of instructional schools where participants learn first-hand from the world's greatest poker players, just announced details for its first-ever event in Los Angeles, California USA.
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Team PokerStars Nets Hockey Great Mats Sundin While the hockey world may have to keep waiting for Mats Sundin to decide his NHL future, fans of the felt will be seeing a lot of the fomer Toronto Maple Leafs captain. It has been announced that PokerStars has signed the hockey legend to an endorsement deal, making Sundin the newest PokerStars embassador.
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WSOP November Niner Dennis Phillips Signs Up for Oracle Poker Consulting With 2008 World Series of Poker final table participants receiving the luxury of a 117 day break before the biggest day of their poker careers, it was believed that the final nine would take a large portion of the hiatus to fix any leaks in their poker game. "November Nine" chip leader Dennis Phillips was the first final tabler to make his coaching arrangements public, as his hiring of Oracle Poker Consulting was announced Wednesday in a press release. |
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