 The stadiums could be transformed into gaming complexes |
MGM Mirage, the Vegas gambling giant, has raised its bid for Wembley PLC, the dog track and slot machine company. It raised the stakes to $555m following a counter bid from BLB investors, a group of casino operators and developers.
It is $65m more than its own previous bid, easily topping BLB's $525m.
The deal still needs approval from Wembley shareholders and the regulators. Wembley operates the Rhode Island dog track and centres in the UK.
Its London-based operation runs dog racing at Portsmouth, Oxford, Wimbledon, Manchester, and Birmingham. All could be sold to the American-based company.
Neon signs
The Las Vegas company says it is attracted to the UK because of deregulation in the gaming industry.
If it goes ahead the deal could lead to stadiums becoming more like Las Vegas-style gambling emporiums with slot machines and card tables.
The terms of the acquisition have already been unanimously recommended by Wembley's board of directors to its shareholders.
The company saw its share price plunge last year after it faced charges in the US for allegedly trying to influence public officials.
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