AN INDONESIAN cigarette billionaire is in advanced talks to acquire Les Ambassadeurs, Britain’s most exclusive casino, for £115 million from London Clubs International (LCI).

Putera Sampoerna, believed to be a long-standing member of the club, is worth about £1.2 billion after selling his family’s clove kretek cigarette business to Altria, the US tobacco group formerly known as Philip Morris, for $5.2 billion (£3 billion) a year ago.

The deal, which would make the Mayfair club the UK’s most expensive casino, would enable LCI to reduce its £120 million debt and fund the £60 million development of casinos in London, Manchester, Leeds, Nottingham and Glasgow.

Les Ambassadeurs, or Les A, attracts some of the world’s biggest high rollers, including Philip Green, the Bhs owner.

Selling the venue would address the volatility of earnings suffered by LCI. In recent years, the casino has delivered earnings before interest, tax, depreciation and amortisation ranging from £18 million to £7 million. In contrast, punters at most of LCI’s other casinos gamble smaller amounts, making earnings more predictable.

Analysts suggested that the disposal might bring the oft-mooted merger between LCI and Stanley Leisure closer by reducing potential competition issues. Genting, the Malaysian gaming operator, has more than 20 per cent of both companies but has shown no inclination to combine its interests.

LCI confirmed that it had received an approach for Les Ambassadeurs but declined to cite the price or identify the suitor.

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