The U.K. government announced it will introduce a gambling deregulation law in the next few weeks, a move eagerly awaited by U.S. casino companies hoping to get their slice of the next big market.
Blair backs bill on gambling deregulation
The U.K. government announced it will introduce a gambling deregulation law in the next few weeks, a move eagerly awaited by U.S. casino companies hoping to get their slice of the next big market, miami.com reported.
The government's leader in the House of Commons, Peter Hain, said the Gambling Bill would be introduced before Queen Elizabeth II officially opens the next session of Parliament on Nov. 23.
The Department for Culture Media and Sport said that unless the legislation met significant opposition, the law could be passed by the middle of next year.
Under Britain's 1968 Gaming Act, casinos operate as private members' clubs. Jackpots are limited to £2,000 ($3,600) and gamblers must apply for membership 24 hours before they enter a casino.
The draft legislation scraps the 24-hour rule and lets casinos larger than 54,000 square feet install up to 1,250 so-called category-A machines which pay out unlimited jackpots.
The Department of Culture, Media and Sport said the law aimed to regulate the industry, concentrating machines in fewer locations, so people had to make a conscious decision to go gambling. A spokesman said the law might give rise to 20-40 larger casinos across the country.
Prime Minister Tony Blair's official spokesman said Thursday the new regime would take gambling machines out of around 6,000 premises, including fast food shops and taxi ranks "where kids can play them."
Instead "gambling machines will be concentrated in betting shops, casinos and a small number of other arcades which will be tightly licensed by local authorities."
Since the government said it would relax its gambling laws, the largest players in the industry have rushed to cash in on the potentially lucrative British market.
Earlier this week, Caesars Entertainment Inc. announced it is planning to build a Las Vegas-style hotel-casino near the redeveloped Wembley National Stadium and Wembley Arena in London.
The $600 million resort will consist of 400 rooms and be built on 13 acres. The plan is subject to the scheduled deregulation of gambling laws in Britain.
MGM Mirage and Harrah's Entertainment have announced deals to build casinos in Britain, each looking to take advantage of a nation in which 72 percent of the population - some 33 million adults - gambled an estimated $65 billion in 2001.
