Sheffield hopes plans for a casino will earn the city a fortune

Under the plans, a casino, restaurants and hotel would be built next to the city's Meadowhall shopping centre.

Up to 6,500 jobs would be created in the building and running of the site, jointly run by US entertainment giant MGM Mirage and British Land.

But developers say for the scheme to get off the ground, UK gaming and tax laws would need to be modernised.

Ambitious plans

The project would form part of a "masterplan" by Sheffield City Council and British Land to revitalise the Lower Don Valley by attracting new investment to the former centre of South Yorkshire steel production.

John Mothersole, the city council's executive director of development, environment and leisure said: "The deregulation of gaming laws promises significant job creation and regeneration benefits.

"We want to capture much of that for job growth in Sheffield.

"However, it is a new sector and we want to consider all the implications and the details of the plans through the planning process.

"We will want to look positively at this proposal."

A spokesman for MGM Mirage, which owns the famous MGM Grand casino in Las Vegas, said: "This agreement with British Land in Sheffield is a key element of our ambitious plans to invest in the UK."