LAS VEGAS – Harrah’s Entertainment Inc. says it has acquired or received acceptances for about 83 percent of the ordinary shares of London Clubs International plc.
Harrah’s “anticipates controlling 100 percent of London Clubs by the end of the fourth quarter,” the company said in its Friday evening news release.
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London Clubs operates seven casinos in the United Kingdom, and has another four under development. LCI also operates two casinos in Egypt and one in South Africa, and acts as a consultant to a casino in Lebanon.
“London Clubs’ experienced, multinational management team strengthens our existing team, enhancing Harrah’s international expansion opportunities,” said Gary Loveman, Harrah’s chairman, president and CEO. “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 Inc. (NYSE:HET) is the world’s largest provider of branded casino entertainment. Founded in Reno, Nevada, 68 years ago, it has grown through development, expansions and acquisitions. Additional information is available at www.harrahs.com.
