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Harrah's Acquires Controlling Interest of London Clubs
Friday, November 03, 2006
LAS VEGAS -- Harrah's Entertainment, Inc. (NYSE:HET) today announced that it has acquired or received acceptances for approximately 83% of the ordinary shares of London Clubs International plc. Harrah's
anticipates controlling 100% of London Clubs by the end of the fourth quarter 2006.
anticipates controlling 100% of London Clubs by the end of the fourth quarter 2006.
London Clubs currently operates seven casinos in the United Kingdom and has an additional four under development. In addition, LCI operates two casinos in Egypt, one in South Africa and has a consulting relationship with a casino in Lebanon.
"London Clubs' experienced, multi-national management team strengthens our existing team, enhancing Harrah's international expansion opportunities," said Gary Loveman, chairman, CEO and president of Harrah's. "Additionally, the London Clubs properties will strengthen our position in the evolving regulatory framework in the United Kingdom and we are looking forward to working closely with the London Clubs management team."
Harrah's Entertainment
One Harrah's Court
Las Vegas, NV 89119
Las Vegas, NV 89119
Phone: (702) 407-6000
Toll Free Phone: 800-eHARRAH
Fax: (901) 762-8637
Website: www.harrahs.com
Toll Free Phone: 800-eHARRAH
Fax: (901) 762-8637
Website: www.harrahs.com
| Harrahs Entertainment owns or manages through various subsidiaries more than 40 casinos in three countries, primarily under the Harrah's, Caesars and Horseshoe brand names. |
London Clubs International
10 Brick Street
London W1J 7HQ
United Kingdom
London W1J 7HQ
United Kingdom
Phone: +44 (0) 20 7518 0158
Fax: +44 (0) 20 7318 6611
Website: www.lciclubs.com
Fax: +44 (0) 20 7318 6611
Website: www.lciclubs.com
| London Clubs International is a market leader in London and with four of the 24 licences currently in the city, LCI offers casinos for all tastes and every level of play: Fifty, The Rendezvous Casino, The Sportsman Casino and The Golden Nugget Casino. |