Blue Chip News

Isle of Capri

The Gaming Board for Great Britain has given the go-ahead to American firm Isle of Capri Casinos to own casinos in the UK.

As a result, the company is making "strategic investment" in Blue Chip Casinos plc that will see it become the majority stakeholder. Isle of Capri will acquire a two-thirds interest in Blue Chip in a deal expected to close by the end of the year.

Blue Chip's first venture will see the Castle Hill Casino in Dudley acquired from the existing private operators and redeveloped with a mediaeval theme. The lastest Blue Chip Casinos are the Rome-themed Rubicon Casino in Wolverhampton and the Italian themed Sorrento Casino in Walsall.

 

The company has further plans to extend its chain of themed casinos across the UK over the next five years. "We have been a pioneer in the regional gaming industry in the US," said Isle of Capri Chairman Bernard Goldstein, "and through our ownership of Blue Chip we believe we gain an advantage, giving us valuable experience prior to enactment of the proposed UK gaming reforms."

Newspaper Clippings

Select the thumbnails to view the full article in a new window.

 

 

Disclaimer Notice

This press release may be deemed to contain forward-looking statements, which are subject to change. These forward-looking statements may be significantly impacted, either positively or negatively by various factors, including without limitation, licensing, and other regulatory approvals, financing sources, development and construction activities, cost and delays, weather, permits, competition and business conditions in the gaming industry. The forward-looking statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by the statements herein.

Additional information concerning potential factors that could affect the Company's financial condition, results of operations and expansion projects, is included in the filings of the Company with the Securities and Exchange Commission, including, but not limited to, its Form 10-K for the fiscal year ended April 27, 2003 and Form 10-Q for the quarter ended October 26, 2003.