Genting wants to sell London casino

The Asian gaming operator mandated a real estate services firm to sell a casino in London.

UK.- A CBRE official confirmed that an unit of Genting Malaysia mandated the real estate services firm to sell Maxims Casino Club located in London. This operation is the second one in the city in September.

Genting International confirmed the operation and is believed that the company is asking for £40 million for the casino that is located at Palace Gate House. The facility was acquired a decade ago from United Kingdom’s Stanley Leisure. Of the forty casinos owned by Genting in the UK, four are operated by a subsidiary.

The facility has recently been through a complete refurbishment of its three VIP gaming rooms, including the Dickens Room’s hand-painted stained glass ceiling, local media reported. CRBE told Nikkei Markets that he expects a strong worldwide interest for this thriving business with the benefit of a freehold in one of London’s most prestigious locations. The sale is seen as an exceptional opportunity to gain a foothold in the exclusive London casino market, which benefits from both a strong domestic and international clientele, he said.

Earlier this month, it was reported that landing will sell the London-based club casino Les Ambassadeurs. The firm will focus on emerging Southeast Asian markets. Landing started operating the facility in 2016. The casino club is currently on sale for £240 million, which is a similar amount to what Landing International paid during the first months of 2016, as it was purchased for £137 million.