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London Clubs International sells London casino

03 April 2006
London Clubs International sells London casino

London Clubs International (LCL) has sold its Les Ambassadeurs casino in London's Mayfair to investment vehicle Twinwood for £115m.

LCL blamed the sale on a fall in business due to the London bombings in July 2005.

It said in a statement that although trading had recovered to some degree since the attacks last year it was still too low because many of its super-rich clientele had been put off.

Les Ambassadeurs' new owner is believed to be Indonesian tobacco tycoon Putera Sampoerna.

Sampoerna is developing a chain of luxury casinos after selling his cigarette business to Philip Morris for $5.2b (£3.01m) last year.

LCL said it would use the money from the deal to reduce debt and fund new casino openings in the UK.

By Mark Newton

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