Millionaire businessman Rinaldo Fasulo has put forward a proposal to Peterborough City Council to open a £50m regional casino in the city.

The council has in turn applied to the Casino Advisory Panel for the rights to build one of 16 large, regional casinos under the new Gambling Act.

The panel is likely to take up to eight weeks to reach a decision on whether Peterborough is in need of a casino-backed regeneration project.

Fasulo has already invested £25m in local business interests via ownership of the Broadway Entertainment complex, the Session’s House and Gaston restaurants. Details: www.peterborough.gov.uk