Harrah’s Entertainment Inc., announced that it has acquired or received acceptances for almost 83% of the ordinary shares of London Clubs International Plc. In a news release the company issued on Friday, it anticipates controlling 100% of London Clubs by the end of the year.
“London Clubs’ experienced, multinational management team strengthens our existing team, enhancing Harrah’s international expansion opportunities,” Gary Loveman, Harrah’s chairman, President and CEO, said. “Additionally, the London Clubs properties will strengthen our position in the evolving regulatory framework in the United Kingdom.”
London Clubs owns and operates seven casinos in the United Kingdom and is developing another four. The company also owns and operates two casinos in Egypt and one in South Africa. According to Loveman, Harrah’s will closely work with the London Clubs management team.