Wembley plc Jul 2005

Wembley sold its US gaming division, comprising its operations in Rhode Island and Colorado to BLB Investors LLC ("BLB"), a consortium comprising Kerzner International, Starwood Capital and Waterford. The gross purchase price is US$455mlion (£261mlion) in cash. As part of the transaction, Wembley repurchased BLB's 22 per cent interest in Wembley. Following this transaction and the disposal earlier this year of its UK gaming division, Wembley now has no trading operations and will commence a members' voluntary liquidation to return all surplus capital to shareholders.