A £50m provision against its interest in disastrous Las Vegas casino 'Aladdin' distorted full year figures to 30 April at the UK casino group. The Aladdin casino opened last August, four months late, and cost $1.3bn to build before incurring additional costs of $220m. Directors said that its operational problems have been addressed and that progress continues to be made at the venture. Furthermore, London Clubs International (LCI) has restructured the equity in Aladdin, giving it 85% of the shares and intends to pursue discussions with third parties to 'significantly reduce' its $1.3bn (£913m) investment. Aladdin's fortunes have suffered as the US economic downturn kept gamblers away from its slot machines and roulette wheels. The £50m hit meant pre-tax losses came in at £52.8m (£14.1m profit) on sales lifted to £151.6m (£144.7m). On the upside, board members said the group's London casinos, such as the Golden Nugget, The Sportsman and The Rendezvous, all performed well during the year and the high roller market 'remained strong'. LCI was also awarded a regional licence in Northampton and a licence for a casino in Manchester.

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