London Clubs International
Encyclopedia
London Clubs International (LCI) is a British gambling company that was bought by Harrah's Entertainment
in 2006. At the time of purchase, LCI operated casinos in London
, Southend and Brighton
as well as in Egypt
and South Africa
. It also had licenses to build five additional casinos.
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, 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. Interest in British casinos had increased in 2006 due to legislation that allowed for larger "Vegas style" 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
. 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 in Nevada, English gambling laws do not prohibit 18 year olds from participating). 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. Egypt and South Africa were mentioned as possible expansion sites because Harrah's owns casinos, via LCI, in those two locations.
LCI had developed severe financial problems back in 2001, after its failed venture in the Aladdin, Las Vegas Casino. 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.
Harrah's Entertainment
Caesars Entertainment Corporation is a private gaming corporation that owns and operates over 50 casinos, hotels, and seven golf courses under several brands. The company, based in Paradise, Nevada, is the largest gaming company in the world, with yearly revenues $8.9 billion...
in 2006. At the time of purchase, LCI operated casinos in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, Southend and Brighton
Brighton
Brighton is the major part of the city of Brighton and Hove in East Sussex, England on the south coast of Great Britain...
as well as in Egypt
Egypt
Egypt , officially the Arab Republic of Egypt, Arabic: , is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world...
and South Africa
South Africa
The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
. It also had licenses to build five additional casinos.
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, 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. Interest in British casinos had increased in 2006 due to legislation that allowed for larger "Vegas style" casinos.
LCI is best known for being the host of the World Series of Poker Europe
World Series of Poker Europe
The World Series of Poker Europe is the first expansion effort of World Series of Poker-branded poker tournaments outside the United States. Since 1970, participants had to travel to Las Vegas if they wanted to compete in the World Series of Poker...
(WSOPE). The World Series of Poker
World Series of Poker
The World Series of Poker is a world-renowned series of poker tournaments held annually in Las Vegas and, since 2005, sponsored by Harrah's Entertainment...
is the most prestigious poker tournament in the world, and the WSOPE was the first time it held an event outside of Las Vegas
Las Vegas, Nevada
Las Vegas is the most populous city in the U.S. state of Nevada and is also the county seat of Clark County, Nevada. Las Vegas is an internationally renowned major resort city for gambling, shopping, and fine dining. The city bills itself as The Entertainment Capital of the World, and is famous...
, Nevada
Nevada
Nevada is a state in the western, mountain west, and southwestern regions of the United States. With an area of and a population of about 2.7 million, it is the 7th-largest and 35th-most populous state. Over two-thirds of Nevada's people live in the Las Vegas metropolitan area, which contains its...
. In 2007, Thomas Bihl
Thomas Bihl
Thomas Bihl is a German poker player who became the first person to win a World Series of Poker bracelet outside of Las Vegas, Nevada. Bihl was sponsored by Betfair, the official sponsor of the 2007 World Series of Poker Europe ....
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
Annette Obrestad
Annette Obrestad is a Norwegian poker player. Obrestad is the youngest person to ever win a World Series of Poker Europe bracelet...
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 in Nevada, English gambling laws do not prohibit 18 year olds from participating). 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. Egypt and South Africa were mentioned as possible expansion sites because Harrah's owns casinos, via LCI, in those two locations.
LCI had developed severe financial problems back in 2001, after its failed venture in the Aladdin, Las Vegas Casino. 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.