Rangers FC, one of Scotland's most prominent soccer teams, is seeking approval for a £120 million casino complex adjacent to their home pitch at Ibrox Park.

Scottish soccer team plunge into the casino business

Rangers FC, one of Scotland's most prominent soccer teams, is seeking approval for a £120 million casino complex adjacent to their home pitch at Ibrox Park, the Scotsman reported.

The Glasgow club announced it would be ready to submit plans for the 150,000sq ft casino to Glasgow City Council at the end of this month after joining forces with billionaire Sheldon G Adelson, developer of the Venetian casino in Las Vegas.

The American, who owns the Venetian Casino Resort in Las Vegas, agreed to invest £80m in the project, which could also include a hotel and luxury flats.

The eventual goal is to generate additional revenue for Rangers to seek out top players on the ruthlessly competitive European transfer market.

Nick Peel, retail director at Rangers, said the move would represent a huge departure for the club.

He said: "We have refined the design and model for the entertainment complex and are on schedule to present a planning proposal by the end of the month. All these off-field activities serve one purpose and that is to generate funds for the club, hopefully allowing the football side to reinvest in players.

Glasgow presently has a handful of casinos that serve the tourist industry, and the Glasgow Chamber of Commerce was recently in favor of another recent casino proposal, citing economic benefits; the plan includes provision for more than 2000 new jobs, according to www.casinohawk.com.

What effect this will have on the soccer team's fortunes at the European level, however, remains to be seen.