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Raising the Stakes Continued- Hampshire Business
Date: 31/10/2008
Peter Brooks - executive deputy chairman of gaming giant Genting Stanley, which has two Southampton Casinos
In 2006, Genting acquired Stanley Casinos. I have known the group for over 20 years and they appointed me executive deputy chairman, making me the group's senior executive in the UK with all the gaming operations reporting to me. The UK group has more than 40 casinos and some 3,500 employees. Its portfolio includes some of the most exclusive and luxurious casinos in the world, including the flagship Crockfords Club in Mayfair, London, which is the world's oldest private gaming club.
The job with Genting is the most challenging I have ever taken;
last year, the government scrapped the lowest 2.5 per cent of
gaming duty with a new minimum set at 15 per cent and increased the
top rate by 20 per cent. This substantially increased our costs
over night and was a huge hit for Genting Stanley. This came just
eight weeks after I took the job - talk about being thrown in at
the deep end. But I have always liked a challenge and this is one
of the things that attracted me to this job.
The last 12 months has been an interesting time within the casino
industry. As well as the changes to gaming duty, we have had to
deal with the effects of the smoking ban, the government's U-turn
on the proposed supercasino and the announcement of a possible 16
further casinos around the UK plus the effects of the credit
crunch. So I have certainly been kept on my toes.
There is also the more general challenge of trying to change some
of the common misconceptions surrounding casinos. People tend to
imagine either James Bond style glitz and extravagance, or smoky,
male-dominated dens. When they do experience the real thing,
they're nearly always pleasantly surprised. The atmosphere in all
our Genting Stanley casinos is friendly and welcoming, and there is
much more on offer than just gambling.
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Raising the Stakes - Hampshire Business
Date: 31/10/2008
Peter Brooks - executive deputy chairman of gaming giant Genting Stanley, which has two Southampton Casinos
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