Hilton outlines future gamble on China |
February 24, 2006 Hilton Group today outlined its future as a pure-play gambling business and plans to place a heavy emphasis on China after the £3.3 billion sale of its hotels division to America's Hilton Hotels Corporation.
The news came as Hilton Group announced a 10 per cent rise in pre-tax full-year profits to £414 million and confirmed it would return up to £4.2 billion to shareholders after selling its hotels portfolio.
Ladbrokes said senior members of its management team had been stationed in Beijing to advise China Sport Lottery (Beijing) Sales and Marketing Co (CSLSM), the organisation with responsibility for sales, marketing and operational aspects of a new chain of sports pools betting shops which will use the "Happy Pool" brand.
The China Sports Lottery is expected to be worth around $4 billion this year, Ladbrokes said. |
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Source: Ateonline.co.uk |
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