Ladbroke completes US purchase

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The Independent Online
LADBROKE, the hotels and betting group, yesterday completed its acquisition of Colorado Gaming and Entertainment of the US for $87m (pounds 53m) following approval by the Colorado Gaming Control Commission. Ladbroke said the payment included $53m of debt. The completion of the sale comes ahead of Ladbroke's results on Thursday, which analysts say will show a strong rise in interim profits.

Colorado Gaming is the largest casino management company in Colorado, and owns three limited-stakes casinos. Its earnings before interest, tax, depreciation and amortisation were $12.7m in the year to 31 December. Ladbroke is still awaiting a decision from the UK competition authorities on its pounds 363m purchase of the Coral betting chain from Bass.