Page 26 - Stakis A Case Study

under control, running a casino must be one of the easiest
ways to make money. The regulations instituted by the

Gaming Act impose increased costs and continue the

concern about maintaining operations, while restricting

new entrants to the industry.

A disquieting development was the growing evidence that

many of the former clients from Arab countries were

seeking gambling opportunities elsewhere - in Cairo and

Istanbul or America and the Far East. What is more, it was

thought that some of the Arab "high rollers" of the early 80s

were becoming more restrained gamblers.

Provincial casinos, which depend almost entirely on UK

customers drawn from a number of backgrounds, enjoyed

much more sustained growth during the same period,

unlike the London casinos.

The Barracuda Club in London's West End was purchased

in late 1990 for £11.5 million giving the company an

increased presence in the capital.

The public houses and restaurants included in this division
were particularly well-established in the West of Scotland,

as were the Group's discotheques. As with its hotels much

care was taken with decor and a considerable investment