Branson may put his cash on casinos
Business tycoon Richard Branson is considering putting his cash on casinos in his latest bid to expand the Virgin brand, it was confirmed today.
Branson became a member of the British Casino Association last week after the recent launch of Virgin’s online casino business – and is now looking at opening actual casinos.
A spokesman confirmed he had received approaches regarding the move, but dismissed a report he may open a chain of venues across Britain, saying he was more likely to open “one or two special sites”.
He said: “We have been approached by several companies on the issue but we have not made any decisions.
“We are looking at the possibility of whether or not it is the right thing to do.”
It is thought Branson’s advisers are attracted by the potential synergies with Virgin’s mobile phone business, Megastore arm and a possible bid for a National Lottery licence.
The Observer said the entrepreneur believes his experience flying 300,000 passengers a year from London to Las Vegas has given him a solid understanding of the gambling industry.
Any move would coincide with planned changes to the UK gaming laws, which would see so-called “mega casinos” open across the UK, featuring 1,250 machines offering jackpots of around £1m (€1.4m).
It is thought that the British government will announce this week that the first wave of casinos will be limited to one venue per region. Las Vegas operators had hoped for more than 20.
As well as its airline, trains and music stores, the Virgin Group of businesses also includes credit cards and car insurance among other things.
Virgin Mobile recently became the first part of the empire to float on the London Stock Exchange.
The group’s spokesman added that the new online casino had proved successful with punters, so far attracting more than 35,000 customers.
