Iconic casino Star City is on sale

The offered price is £25 million (US$35,967,250) lower than current operators had paid in 2006.
The offered price is £25 million (US$35,967,250) lower than current operators had paid in 2006.

Celebrities George Clooney and Mark Wahlberg were at the casino debut in 2000, when they premiered The Perfect Storm movie in the cinema located at the complex.

UK.- English Birmingham city announced that its Star City Casino has been put on the market in February. Operators Cerberus Capital Management set the price tag of £60 million (US$86,321,400) and a undisclosed British real estate investment trust is seemingly the most interested in the buyout.

The complex designed by Carillion –relevant infrastructure company from Wolverhampton city– covers over 400,000 square feet and has its own canal moorings. Operators manage the Star City casino, its cinema, the Tenpin bowling saloon, Twin Peaks indoor climbing centre and Genting casino among other retail outlets. The Star City was released in 2000, F&C REIT purchased it in 2006 for £85 (US$122.288.650) on behalf of Nationwide loans from X-Leisure.

After that, in 2014, Cerberus Capital Management –New Yorker investment firm with a subsidiary in UK– acquired Nationwide loans in the “Project Carlisle” deal which included the Star City Casino and other properties for around £680 million (US$978,309,200). Local media suggests that the complex could be facing some problems and it could be demolished.