London Clubs International

London Clubs International (LCI) is a British gambling company that operates twelve casinos in the United Kingdom, Egypt, and South Africa. It is owned by Caesars Entertainment.

London Clubs International
IndustryGaming, hospitality
Founded1981
HeadquartersLondon, England, U.K.
ProductsHotels, casinos
OwnerCaesars Entertainment
Websitecaesars.co.uk

History

LCI had developed severe financial problems in 2001, after its failed venture in the Aladdin Casino on the Las Vegas Strip. A combination of cost overruns, declining tourism, and poor design led to the casino filing bankruptcy in September 2001 and eliminating LCI's equity in the casino.[1]

In 2006, London Clubs International was acquired by Harrah's Entertainment. Before being bought by Harrah's, LCI was in negotiations with Stanley Leisure (England's largest casino operator) about a possible merger, but the latter were outbid by Harrah's. Genting Group, a Malaysian gaming giant, was also interested in LCI. "London Clubs is an important strategic asset for foreign gaming companies wanting to establish a footprint in the UK ahead of deregulation," said Matthew Gerard of Investec Securities.[2] Interest in British casinos had increased in 2006 due to legislation that allowed for larger "Vegas style" casinos.

At the time of purchase, LCI operated casinos in London, Southend, and Brighton, as well as in Egypt and South Africa.[2] It also had licences to build five additional casinos.

LCI is best known for being the host of the World Series of Poker Europe (WSOPE). The World Series of Poker is the most prestigious poker tournament in the world, and the WSOPE was the first time it held an event outside of Las Vegas, Nevada.[3] In 2007, Thomas Bihl became the first person to ever win a WSOP bracelet outside of Vegas. Bihl won the £2,500 World Championship H.O.R.S.E. at the World Series of Poker Europe at LCI. Days later, Annette Obrestad became the youngest player to ever win a WSOP bracelet at 18 years, 364 days, also becoming the first woman to win a World Series Main Event (Unlike Nevada, English gambling laws do not prohibit 18-year-olds from participating).[4] Harrah's Casinos, the owner of the WSOP, considers the WSOP Europe bracelet to be the same in prestige as those awarded every year in Las Vegas.

While no definitive plans have been announced, Pollack indicated in February 2007 that other venues may start holding WSOP events.[3] Egypt and South Africa were mentioned as possible expansion sites because Harrah's owns casinos, via LCI, in those two locations.[5]

In 2010, Harrah's was renamed as Caesars Entertainment.[6] Caesars was acquired in 2020 by Eldorado Resorts, which then changed its own name to Caesars Entertainment.

Casinos

Egypt

South Africa

United Kingdom

References
  1. Reece, Damian (30 September 2001). "Aladdin failure puts LCI on edge". The Daily Telegraph. London.
  2. "Casino giant to buy London Clubs". BBC News.com. BBC News. 31 August 2006. Retrieved 9 February 2009.
  3. Warner, Eric. Stay classy, London: Jeffrey Pollack on the World Series of Poker Europe Archived 19 May 2009 at WebCite 27 February 2007. Pokerlisting.com Accessed 7/25/07
  4. Pokernews.com: £10,000 NLHE, Final Table: Annette Obrestad Makes History
  5. Bambach, Mike.World Series of Poker ups the ante, expands event to Europe 6-28-07. USA Today. Accessed 7/25/07
  6. "Harrah's controlling stake in London Clubs International". FinancialWire. 5 November 2006 – via NewsBank.
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