London's Les Ambassadeurs Casino Attracts Smaller Crowds after July's Bomb Attacks
5 April 2006
Prominent casino operator London Clubs International (LCI) recently announced that, due to last July's bomb attacks on London's underground and bus networks, the group's flagship gaming venue, Les Ambassadeurs, has suffered a major decrease in visitation levels. Normally, London is a major travel destination for high-rolling Gulf Arab Sheiks, who escape the hot summer temperatures of the Middle East by coming to the British capital.
The casino group, which miraculously recovered from near bankruptcy several years ago, also said that its shares slid by 4% after some gaming industry analysts downgraded its profit forecasts for the fiscal year that ended in March. According to company officials, the casino operator has also seen an unusual string of big payouts to customers, which hit the club's win margin considerably.
London Clubs added that it had completed the ₤115 million (over $200,000,000) sale of Les Ambassadeurs to Indonesian cigarette billionaire Putera Sampoerna. Selling the club, whose visitors often win or lose millions of pounds in a single evening, is expected to make the casino group's earnings more stable. In addition, the gaming operator commented that, in terms of profits, the rest of its casino estate traded as usual.
Source: Authorized Online Casinos News Staff
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