Ricoh casino takeover bid - Wednesday 28th of May 2008

A NEW operator is bidding to take over Coventrys Ricoh casino.

It was revealed last night that a potential takeover of the Isle of Capri complex is being discussed.

There has been speculation for some months over the future of the £36million casino which opened in July last year.

The casino management admitted that they had received interest from a potential purchaser, but refused to reveal any details of the bidder.

Marcel Vernon, general manager of the Isle Casino, said: "It is well known in the entertainment industry that the Isle of Capri has worked hard and invested heavily to establish a strong emerging business.

"That, combined with our central location at such a great complex, has unsurprisingly attracted interest from potential purchasers.

"At the moment it is no more than that, and we have appointed consultants to look at any potential transaction.

"The Isle continues to trade as usual and to deliver a first class experience to our growing customer base."

The complex is owned by American-based Isle of Capri who run major entertainment centres in the US.

The potential buyer is believed to be interested only in the Coventry operation, where there has been a major investment in the development and training of specialist staff.

The casino, which is underneath the Ricoh Arena, created excitement when it opened.

The 100,000 sq ft space is filled with a sea of gaming tables like roulette and blackjack, 30 slot machines, stage areas, three restaurants and five bars.

It also contains the largest man-made water feature in the UK - a massive pebble waterfall, containing 40,000 beach pebbles.

There is a huge opportunity to expand the size of the complex and Isle of Capri had pinned their hopes on creating a supercasino but that plan has been scuppered by the Governments u-turn on how casinos should be allowed to develop.

News of the possible sale comes just months after a takeover of the Ricoh Arena and Coventry City Football Club by multi-millionaire Ray Ranson.

Other news from around the same time

Insolvency team called in by crisis-hit bookie - Wednesday 28th of May 2008

TROUBLED bookmaker Neville Porter has appointed an insolvency expert to strike a deal with its credi....

Tropicanas former owners want casino license back - Wednesday 28th of May 2008

Six months after they were run out of town, and with the search for a new owner nearing the finish l....

Hoosier Park getting ready to open casino - Wednesday 28th of May 2008

Owners say more than 500 new employees will be needed to operate the soon-to-open casino side of Hoo....

Court sides with casino boats - Wednesday 28th of May 2008

The S.C. Supreme Court ruled 4-1 Monday that casino boat companies do not have to report monthly wag....

Hard landing: Casino slowly being demolished - Wednesday 28th of May 2008

More than a year after closing, the Nevada Landing is history. Since mid-February, MGM Mirage has be....

Champs splash £100k at casino - Wednesday 28th of May 2008

MANCHESTER United stars toasted winning the Premier League with a £100,000 gambling spree – but l....

Bartlett scolds casino critics - Tuesday 27th of May 2008

In his most scathing remarks yet against the detractors of casino gambling, Tourism Minister Edmund ....

US slump deals bad hand to gambling - Tuesday 27th of May 2008

JAMES PACKERS publicly listed gambling company, Crown, and the poker machine maker Aristocrat are br....

Ontario man wins $1 million at poker tournament in Barcelona - Tuesday 27th of May 2008

An Ontario man who captured the million-dollar first prize at a poker tournament in Barcelona on the....

Betting chain set to rebrand - Tuesday 27th of May 2008

MORRISONS, the Edinburgh-based bookmaker, is to rebrand under a different name as it plans to expand....