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Last Updated: Friday, 30 January, 2004, 07:59 GMT
Greyhound tracks in �270m takeover
A greyhound track
The stadiums could be transformed into gaming complexes
One of the world's largest casino firms has made a bid to take over six UK greyhound stadiums.

The grounds at Portsmouth, Oxford, Wimbledon, Manchester and Hall Green and Perry Barr in Birmingham could be sold to the American-based company MGM Mirage as part of a �270m takeover of the leisure group Wembley plc.

The deal could lead to the stadiums being built up into gaming emporiums with slot machines and card tables introduced.

The Las Vegas company says it is attracted to the UK because of moves to deregulate the gaming industry.

Bribery scandal

J Terrence Lanni, chairman and chief executive officer of MGM Mirage said the greyhound tracks "could complement our plans to develop facilities in the United Kingdom, should appropriate gaming reforms be adopted".

The deal, which comes as Wembley is embroiled in a bribery scandal in the US, is expected to be completed by June.

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.


SEE ALSO:
US charges rock Wembley plc
10 Sep 03  |  Business
Vegas casinos bet on the net
30 Nov 02  |  Technology


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