JP Morgan has pledged debt financing alongside mergers and acquisitions advice to help a consortium of casino operators launch a £287.3m (€430m) cash bid for Wembley, the UK gaming group. It trumps an existing offer worth £270m from MGM Mirage, a Las Vegas gaming resort operator.

BLB Investors, a bid vehicle for two US casino groups, Kerzner International and Waterford, and Starwood Capital, a US property investor with casino assets, will provide equity for the 800p-per-share offer. Deutsche Bank is providing debt finance alongside JP Morgan, which has provided finance for Kerzner and Starwood on US deals.