Harrah's Entertainment criticized Britain's plans to raise taxes on large casinos on Friday, saying that it will discourage casino operators planning to invest in projects in the country, including in the first super casino planned in Manchester.
Last week, Gordon Brown, Chancellor of the Exchequer, announced plans to levy a 50 per cent tax on large casinos instead of the existing rate, which is around 25 per cent.
Harrah's is one of the companies that are opting for the contract for the super casino. Sir Howard Bernstein, chief executive of Manchester City Council, said it is uncertain how Brown's tax plan would affect the project, which is set to start operating in Manchester by 2010.
Bernstein added that he expected all the major U.S. casino operators to bid for the project in spite of the announcement on higher taxes.
An official at Harrah's said that the higher rates of taxes, which are announced just when investments are being proposed in a project, it is likely to limit the amount of capital that will be put in the project.
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