In a previous report regarding the interest of Harrah's Entertainment to buyout ailing London Clubs International, it was clear that Harrah's was quite serious about entering the UK gambling market as old gambling laws and regulations make way for the new provisions of the 2005 UK Gambling Act. In fact, several gaming operators have expressed sincere interest in what could very well become one of the leading global destinations for casino gambling. Harrah's has now confirmed their own interest, and will officially be a presence in England following the news that London Clubs International has taken their latest buyout offer, which was $40 million more than the last.

It was a Malaysia-based, subsidiary of Genting International, who agreed to sell their majority holding of shares (30% of London Clubs) to Harrah's at .10 pounds per share more than Harrah's original offer of 1.25 pounds per share. In what amounts to $570 million, Harrah's will now have ownership and control of London Clubs, who currently operates seven casinos in the UK (with four additional UK properties in the developmental stage), two casinos in Egypt, a jointly owned casino in Lebanon and one casino in South Africa.

As for Harrah's, the buyout of London Clubs will be a small addition to their existing empire of thirty-nine casinos in thirteen American states. What is most important about this deal has nothing to do with how many gaming properties that Harrah's has under their jurisdiction, but rather, has everything to do with the jurisdiction itself, in which Harrah's will be able to make its presence known. Harrah's has had obvious intentions in the past to go international. Having beforehand announced their plans to build casinos in Spain and Slovenia, not to mention their bid for a Singapore casino (which they dropped out of), Harrah's is seeking to diversify its U.S. based operations much like Las Vegas Sands, and Wynn have done in recent times.

While Harrah's analyzes their own buyout offer by Texas Pacific and Apollo Management Group for more than $15.5 billion, the company will be expanding deep into the UK gambling scene. As England's regulatory laws begin to make way for Las Vegas style casinos, Harrah's - whether privatized or not - will assuredly be taking advantage of the opportunities and positioning itself for an even greater international reach with the help of London Clubs experienced management team.