Starwood tops MGM's bid for U.K.'s Wembley

04/20/2004 | Bloomberg

As the stakes get higher to take advantage of the U.K.'s pending relaxation of gambling laws, Starwood Capital Group and casino operator Kerzner International Ltd. have increased their joint offer for Wembley Plc to $555 million, topping a bid from Las Vegas casino giant MGM Mirage made earlier this month. The winner of the bid will get Wembley's dog tracks in London, Birmingham and Manchester.

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