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Ladbrokes folds on UK casino plans

Mon Jan 21, 2008 3:54am EST

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LONDON, Jan 21 (Reuters) - British bookmaker Ladbrokes (LAD.L) said on Monday it will not bid to run 16 new large UK casinos expected to be given the go ahead by the government in the next few weeks.

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"We have conducted a review of our casino strategy and have decided we won't bid for licences," a Ladbrokes spokesman said, adding that the firm had been put off by the amount of money it would have had to lay out.

Having had plans for a giant Las Vegas-style supercasino scuppered last year, the government is expected to push ahead with proposals for 16 new large casinos across Britain in the next few weeks.

Potential bidders for the licences include U.S. operators Las Vegas Sands (LVS.N) and Harrah's HET.N, Singapore-listed Genting International GNTG.SI and UK-based GalaCoral and Rank (RNK.L). (Reporting by Marc Jones; Editing by Quentin Bryar)

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