Mayfair’s Park Lane Club to rebrand as Metropolitan Park Lane
Metropolitan Gaming has acquired the Mayfair casino and plans to refurbish the venue.
UK.- Metropolitan Gaming has completed its takeover of the Park Lane Club casino in London’s affluent Mayfair neighbourhood. It now plans to refurbish the London casino, which has been closed since losing its Gambling Commission licence in 2020. It will be rebranded as Metropolitan Park Lane.
A Metropolitan Gaming subsidiary has acquired the casino via an asset sale conducted by the administrators of the club’s former operating company Silverbond Enterprises Limited.
The casino opened in 1994 but the Gambling Commission revoked Silverbond Enterprises’ operating licence in November 2020 because of a change in corporate control. The regulator had said the change in control of the company failed to meet its standards for licensees. Silverbond, which had been hit with a £1.8m fine in 2019 for AML and duty of care failures, appealed against the decision.
Metropolitan Casinos currently has seven casinos in the UK as well as casinos in Egypt and South Africa. Now owned by the hedge fund Silver Point Capital, the company emerged out of Grand Metropolitan, later becoming London Clubs International. From 2006 to 2021, it was owned by Harrah’s Entertainment and then Caesars Entertainment.
Metropolitan Gaming CEO Michael Silberling said: “We are thrilled to be adding the iconic Park Lane Club to our portfolio of casinos in the UK. It is an excellent addition to our portfolio of premier casinos and we have exciting plans to invest in and develop the business moving forward.
“We look forward to welcoming the Park Lane Club team to Metropolitan Gaming and creating safe and memorable experiences for our guests in the new location.”
Memery Crystal LLP and Stevens & Bolton LLP represented Metropolitan Gaming. Clarion Solicitors served as legal counsel to the administrators of Silverbond Enterprises.
