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MGM Mirage, Phil Could Set Up Casino In UK For £650M

American casino company MGM Mirage and British property developer Peel Holdings could spend £650 million (about $1.9 billion) to build casinos in cities including Manchester and Liverpool.

 

They could also develop casinos and entertainment complexes in Salford and Glasgow, the companies said. American casino companies, including Harrows Entertainment, plan to expand their operations in the UK in case legal restrictions on gambling are eased. MGM Mirage is also bidding to acquire Wembley PLC to get dog tracks in London, Birmingham, and Manchester.

 

A British legislative committee recommended earlier this month that casinos be allowed to install more slot machines and end their membership requirements.

 

MGM owns casinos in Las Vegas, including Mirage and Bellagio.

 

Phil owns 2 billion worth of real estate, including a 125-acre waterfront site called Glasgow Harbour, where both companies may build one of the developments.

 

MGM Mirage, which earns about two-thirds of its revenue from Las Vegas, said in October that it may spend W150 million to build a casino in Hammersmith, London, in partnership with Erscott and Olympia.

 

According to Merrill Lynch & Co, about 70% of UK residents gamble mainly at lottery or betting offices.  바카라사이트 순위

 

About 3% to 4% of the population visit casinos to provide opportunities for growth.