Shares in casino operator London Clubs International closed the day up almost 9% at 124p on rumours bookmaker Ladbrokes was preparing to make a 155p-a-share bid.
London Clubs International has been the subject of take-over rumours since the end of 2004, when the Malaysian conglomerate Genting Berhad started increasing its stake in the company, fuelling speculation of an eventual takeover and merger of LCI with rival Stanley Leisure.
Rumours over Ladbrokes\’ acquisition plans have circulated in the last couple of months since the bookmaker started operating as a pure betting business.
In separate news, Ladbrokes informed Playboy Sportsbook affiliates of its decision to close the program by May 1. Apparently both affiliates and players will be transferred to Ladbrokes Sportsbook.
Elsewhere, shares in spread betting company IFX Group hit a 4-year high after rival City Index confirmed it had made an approach regarding a possible offer for IFX. City Index said its initial approach on March 23 was rejected and that it was evaluating whether to make a further approach. In a separate statement IFX said it was not currently in any discussions that might lead to an offer.
Shares in Chariot lost almost 13% after the new online UK national lottery operator announced the launch of a new website.
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