Casinos.co.uk News
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Wednesday 16th June 2004
Las Vegas Sands Inc have released a statement on the back of the news regarding the UK government’s planned review of regulations on land-based casinos. Executives speaking on behalf of the US-based company have commented on the potential effect such plans would have on their proposed UK investments. “It would certainly jeopardise our investment” was the comment made by William Weidner, the president of the company, who then expanded saying the idea of limiting the number of slot machines permissible in a casino “would affect our investment and would hinder regeneration efforts”.
Las Vegas Sands announced in March that they had made agreements with two football clubs- Sheffield United and the Glasgow Rangers to build casinos next to their stadiums. These plans are now possibly under threat in light of this week’s draft of new government regulations. The proposal by the UK government would not only cap the number of slot machines in larger casinos at 150, restrict the development of larger Las Vegas style casinos to large regional centres, but also would down size the ratio of machines to tables in a large casino venue from eight to five, and in smaller venues from three to two. As reported earlier in the week, comments had already been made among the UK-based casino operators who were also concerned that the regulations would disadvantage UK operators in favour of overseas investors. It would seem now that such offshore investors are also having reservations about their own interests should these proposed regulations be brought into place.
Source: OnlineCasinoNews
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