Casino News

UK casinos hit by gaming duties

2007-11-23 13:35:05

The smoking ban and an increase in the level of gaming duty has cost the UK casino industry millions, according to a spokesman Britain's biggest casino operator.

Genting, which owns Stanley, said that it had lost £129 million because of the rule changes, The Times reported.

The company, with a portfolio of 46 casinos, said that it had been affected by the smoking ban but stressed that the gambling duties had caused the biggest losses.

It said: "The impairment is largely attributable to the increase in gaming duty rates [from] April 2007."

Genting bought Stanley last year for over £700 million. As well as its UK operations, the company also owns the Genting Highlands resort in Malaysia.

The only legal land-based casino in Malaysia, helps to make the resort one of the country's most popular holiday destinations, along with a theme park and the world's largest hotel.