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Manx leisure venture in London

A Manx company has signed a deal which will see it build a casino in London in time for the 2012 Olympics.

Genting Ibico Holdings has signed an agreement with United Kingdom-based Apollo Resorts and Leisure to create a new entertainment company.

The new venture, named Sevco, will eventually be called Apollo Genting London, and is headquartered in Cardiff.

Sevco will create what is being described as 'a leisure entertainment destination', which will require a casino licence.

The companies will each spend almost £3 million to build the leisure complex, in the London borough of Newham.

Sevco will acquire or lease land in Newham and will operate the casino in time for the 2012 London Olympics.

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