The casino at the Ritz hotel in London and the billionaire Saudi Arabian arms dealer, Adnan Khashoggi, have reached agreement out of court on their legal dispute over his gambling debts.

Neither side gave details of the terms.

The court was told that Mr Khashoggi owed some twelve million dollars in unpaid gambling debts and interest.

Mr Khashoggi's lawyers said in his defence that the casino had broken the law by letting him play on credit -- an allegation they withdrew when the dispute was settled.