High rollers gamble on gaming laws: case study one
Allan Solomon has a great vision for what his company can do for the British gaming market: it will increase the UK's tourist visitors, and regenerate rundown areas, while contributing to local communities and charities.
That is a tall order. But Solomon says opening 100,000 sq ft-plus casinos will bring much needed life to tired areas. It will also fall into line with government policy. Isle of Capri also intends to follow its US policy of interacting with the local communities and charities.
Using its loyalty card scheme, Soloman also hopes to boost the UK's tourism trade. Existing American customers can clock up points allowing them free use of other casinos owned by the firm. Solomon says it is possible that these customers will be able to earn enough points to visit the UK's Isle of Capri locations.
Such a vision is needed for a company that is prepared to spend millions of pounds in the UK in the hope that the government will change the gaming laws.
But, Isle of Capri - named after a sunken gambling island off the US state of Mississippi - is confident. It has been looking at sites in the UK for the past two years.
Earlier this year it made its first purchase by buying a two-thirds stake in Blue Chips Casinos which owns Castle Hill Casino, Dudley. And last December it bought a 120,000 sq ft site - including back office - at the £120m Arena Coventry Stadium in Coventry.
Around £50m will be spent on the fit-out and half of the floorspace will be dedicated to gambling; the rest will be for entertainment use. It will be the first of the new casinos to open if deregulation goes ahead.
Because of the anticipated sizes of the new casinos - operators are looking at 60,000 sq ft-plus - most of them will have to be sited out-of-town to accommodate both the venue and the need for substantial car parking. As a result, Isle of Capri believes local authorities will look more favourably on operators which go into rundown areas.
"We are looking at rejuvenation. But it's more than just creating jobs, it's about taking a place that's an eyesore and converting it to viable entertainment use," says Solomon.
Ease of access is also important. Sites next to motorways will be looked at - the Coventry site is by the M6.
As well as the mega-complexes designed by American architects, Isle of Capri is opening "casino bars" to cater for local catchments.
These will be between 10,000 sq ft and 15,000 sq ft, and the first two are going to be in Walsall and Wolverhampton. "We would like to open as many as 15 of these," says Solomon.
He hopes the British public will be receptive to the casinos here and adds: "We believe the mentality is right in this country, but we won't know until we open the first casino."
