SERIAL entrepreneur Duncan Bannatyne's brief sabbatical from the business world ended yesterday with the announcement that he is to embarked on a new venture.

Mr Bannatyne has turned his attention to building a casino empire after receiving permission from the British Gambling Board.

The Darlington-based tycoon will run Bannatyne Casinos as a wholly-owned subsidiary of another of his successful ventures, Bannatyne Fitness. He plans to open 20,000sq ft of gambling floorspace alongside his fitness club on Newcastle's Quayside by February 2005. He already owns the freehold on the land, but will need a licence from the city council.

Mr Bannatyne caused controversy last year when he pledged £10,000-a-year to the Labour Party until the next General Election.

He said at the time that it was coincidence the donation came just before the Government issued a White Paper on proposed reforms of the gambling laws.

He said yesterday: "Anyone who thinks that somebody with £50,000 can have an effect on the gambling law in Great Britain needs his head reading."

Followers of the region's business scene will watch with interest how the man with an apparent Midas touch conducts his new money-making venture.

Success running a range of businesses from care homes to health and fitness clubs has created a personal fortune of more than £110m for Mr Bannatyne.

He took a step back from Bannatyne Fitness earlier this year to try and build an acting career, but found the screen a tougher nut to crack than moneymaking.

He said he will be trying to broaden the appeal of casinos.

"The casino industry in the UK is set for rapid reform as the result of recent legislation changes," he said.

"I want to see it attracting the typical TGI Fridays crowd who want to spend their leisure budget in a high-quality environment that offers an exciting and relatively inexpensive night out.

"I have frequented casinos in France and Monte Carlo and they are very different, operating to a higher standard."