MGM Mirage, a Las Vegas-based gaming resort operator has won the auction for Wembley, a UK listed gaming company, with a £270m (€390m) bid.

Wembley, which owns dog and horse racetracks in the UK and the US, effectively put itself up for sale last year after two of its executives, Nigel Potter, the UK business's chief executive, and Dan Bucci, head of Lincoln Park, a US subsidiary, were indicted by a US grand jury accused of bribing US state of Rhode Island officials. Wembley continues to defend its executives.