Casino operator London Clubs International is in rescue talks with its banks to stave off receivership after its struggling Las Vegas venture Aladdin Gaming filed for bankruptcy protection on Friday night.
Its banks led by Nova Scotia would prefer to keep London Clubs out of receivership out of receivership in order to avoid a fire sale of its assets which include some of Londons smartest casinos such as 50 St James, where the average wager is £5000.
It is likely to be stalked by buyers such as Stanley Leisure which owns Crockfords Casino in Mayfair and Rank which owns the Clermont Club in Berkeley Square.
Sunday Telegraph/Business/ page 1 30/9/01
Sunday Times/Business/ page 2 30/9/01
Observer/ Business/ page 1 30/9/01
