Casinos.co.uk: Casino News Archive
Wednesday 29th September 2004
Packer looking to invest heavily in UK gambling industry
Kerry Packer, Australia’s richest man, has revealed plans to invest £300 million in the UK gambling market. The entrepreneur is keen to expand his casino interests in the UK, following the plans to relax regulations on the UK gambling industry announced by the UK government earlier this year. In total the plan is to develop six sites located around Britain.
Details released so far of the first venue to be developed, include that it is to be joint venture between the Packer private company Consolidated Press Holdings, and British entrepreneur Damian Aspinall. This first venue in planning stage will involve a £50 million investment from Consolidated Press Holdings. The venue is to be built in the West Midlands area, and will also feature eight restaurants, a 1000 seat theatre and a training facility.
Damian Aspinall is the son of the late John Aspinall who was a good friend of Kerry Packer. The Aspinall family already own and operate one UK casino, bearing the family name and based in London’s Mayfair area. Consolidated Press Holdings already hold a stake in this venue, and the plan is now to develop a chain between the two organisations, now named Aspers.
There is a lot of interest in the UK gambling market now that the UK government have announced changes in legislation. It is estimated that approximately 2 percent of the British population currently visit casinos. It is predicted that this could increase to around ten times as much as a result of the changes in regulation, and the resulting developments now planned. Packer already owns casinos in Australia, in Melbourne and Perth, but decided against entering the Macau market, which promises to be a new Las Vegas- style destination with a plethora of casino venues on offer. He’s now keen to get a head start on the newly developing UK gambling industry.
Source:OnlineCasinoNews
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