Aspinall bets on private casinos
PUNTERS who staked money on the business skills of Damian Aspinall, son of the late legendary gambler John Aspinall, today discovered a painful truth: the casino doesn't always win.
Businessman and socialite Aspinall, 43, today tabled a bid of just 0.17p per share to take the web-based casinos business Aspinalls Online private.
That compares with a price of 15p when he raised £42m in May 2001 to bankroll the venture, which enabled people to bet on games of roulette, baccarat and blackjack at the click of a mouse.
Net cash of just £790,000 remains in the business, which was poleaxed by technology glitches and regulatory problems in the US.
Independent valuers Daniel Stewart & Co cautioned that the bid, worth £500,000, might not realise the maximum value for shareholders, who could be better off with a liquidation or trade sale.
STANLEY Leisure, the country's largest casino operator, has warned first-half profits could tumble thanks to a winning streak among gamblers at its Crockfords' casino in Mayfair, west London.
