|The Guardian newspaper reports that Duncan Bannatyne, a tycoon known to have donated £10,000 to the governing Labour Party, denies that he had any influence in, or unlawful financial benefit from, recent liberalization of gambling regulations in the UK. Bannatyne plans to invest in the casino business, seen as revitalized due to the government’s ease on gambling. The tycoon’s interest in casinos and his contribution to the Labour Party were “absolutely pure coincidence,” he said.|
The Labour Party is known to be strapped for campaign funds and this would not be the first rumor suggesting cash-for-favors to be done. But Bannatyne said on BBC Radio 4 that he had “... never discussed the white paper (the government’s pre-legislative study on new legislation) on the casino industry with anyone in the Labour party and that remains a fact.”
However, the tycoon contributor agreed that the white paper “... had given him ideas for a new business venture which would have been impossible otherwise,” writes The Guardian. “I am always looking for something else to go into and the new Gaming Act gives me something else that's going to be a growth industry,” Bannatyne explained.