The chief executive of gaming group London Clubs International has refused to rule out a merger with rival British casino operators such as Rank Group or Star City casino operator Stanley Leisure.
Bill Timmins was speaking as his company reported a £1.4 million loss after its flagship London site lost out to a number of high rolling players - who are known as whales in the industry.
The loss, which compared with £2.5 million pretax profit last year, was also attributed to the relocation and refurbishment of its venues during the year to March 27.
Sales during the period fell 13 per cent to £139.6 million.
Mr Timmins raised the prospect of further links in the next few years, although he said no talks were currently taking place.
He said: "If you look over the history of the gaming industry over the past five, six years there has been consolidation.
"Does that mean there is logic in, say, a Rank and a Stanley, or a Stanley and ourselves?
"I think you would have to look very carefully at that moving forward. But is there anything in discussion right now, as we speak? No, there is not."
Financial markets have in recent months been awash with speculation that Malaysian conglomerate Genting Berhad may be keen to force through a merger between London Clubs and Stanley Leisure, the country's largest casino operator.
Genting is the biggest investor in both companies, holding 29.9 per cent of London Clubs' stock and a 20.3 per cent stake in Stanley Leisure. Speculation of a tie-up between the two groups was fuelled further after Stanley Leisure in May sold its 624-strong estate of betting shops to William Hill for £504 million, turning itself into a pure casino operator.
Yesterday, the company said a succession of big-money winners at its flagship Les Ambassadeurs casino had affected its perfomance.
But undeterred, the company said it plans to expand existing casinos and launch a wave of international-style leisure venues across the country.
"Les A had its worst six months in ten years," Mr Timmins said of its prestigious London Hyde Park Corner venue.
"Those things happen at that end of the market. It just shows you the reason people go and gamble because they can win."