Though the Las Vegas-style ‘super casino’ planned by the government as a regeneration tool for Manchester has been shelved, the licensing of 16 other ‘approved’ casinos around the country is expected to provide a boon to sectors including building, recruitment and leisure.
These casinos are expected to be much larger than the current average UK casino, but they will still be governed by the ‘toughest regulatory regime for gambling in the world’, including the banning of free drinks promotions and credit cards.
The 16 will include second-tier casinos in Great Yarmouth, Hull, Leeds, Middlesbrough, Milton Keynes, Newham, Solihull and Southampton, with third-tier casinos set for the likes of Bath, Stranraer, Scarborough, Wolverhampton and Swansea.
Quoted gambling giant Ladbrokes has decided not to enter the sector at all. In its recent results statement, it said that ‘the decision was taken not to pursue any of the new 16 casinos which may be allowed under the 2005 Gambling Act, as returns could not be expected prior to 2012’.
More likely interested development parties include Stanley Leisure, recently acquired by Malaysian group Genting, Rank Group, the operator of the Grosvenor chain of casinos, and Gala Coral, the venture behind Gala Casinos. However, sector analysts note that many of the 16 are in areas already possessing casino facilities, which might dampen the allure of the schemes.
£2,124 profit That’s what you would have in your portfolio if you had invested £6,000 into the six Company Watch recommendations in our May 2009 issue.
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