Metropolitan Gaming acquires Caesars’ European casinos

Metropolitan Gaming has bought 11 casinos from Caesars.
Metropolitan Gaming has bought 11 casinos from Caesars.

Silver Point Capital’s Metropolitan Gaming will take ownership of 11 casinos in Europe and Africa, including the Empire Casino in Leicester Square, London.

UK.- The London casino scene will see a major reconfiguration following Metropolitan Gaming‘s acquisition of Caesars Entertainment’s European and African casinos, including the Empire Casino in London’s Leicester Square, Playboy Casino in Mayfair and The Sportsman Club in Marble Arch.

Metropolitan Gaming is a wholly owned subsidiary of the US private equity firm Silver Point Capital. The deal, the financial details of which have not been made public, gives it ownership of 11 locations in the UK, Egypt and South Africa.

Silver Point said it would work with its subsidiary’s management and provide investment and strategic support to build Metropolitan Gaming into a leading gaming brand in the luxury and premium markets.

Founding partner Edward Mulé said: “We are very excited about the opportunity to acquire a number of historic and high-end casinos in the UK. The acquisition fits well with Silver Point’s focus on investing in high-quality businesses at opportune times.”

Metropolitan has named Michael Silberling as its new chief executive. Silberling will oversee Metropolitan Gaming’s business, including the operation and ownership of the properties acquired from Caesars.

He said: “The world, the global economy and the hospitality industry have been rocked by the Covid-19 pandemic, but I believe that this team is well positioned to lead a strong rebound of this business, benefitting from their experience and expertise, and a partner that is committed to invest.

“We intend to focus on job creation and investment in this historic business as we partner with our employees, regulators and the communities in which we operate to create a safe, fun and memorable experience for our customers that is second to none.”

The US casino giant Caesars is also looking to sell William Hill’s European business following its £4bn acquisition of the British bookmaker.

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Caesars Entertainment Land-based casinos