Caesars Entertainment Inc has completed the sale of its European and African casino properties to Metropolitan Gaming – a gambling investment firm owned by US private equity fund Silver Point Capital.
The transaction will see Metropolitan Gaming take control of Caesars eleven casino properties located within the UK, Egypt, and South Africa.
Metropolitan Gaming’s acquisition of Caesars UK properties, will hold an impact in London, as Caesars operates the venues of the Playboy Casino Mayfair, The Empire Leicester Square, and The Sportsman Club in Marble Arch.
Leading the investment, Silver Point detailed that Metropolitan Gaming had been established to create a new ‘premium and luxury’ casino super group targeting opportunities across European and African markets.
Backing Metropolitan Gaming’s investment and expansion, Silver Point Founder, Edward Mulé, commented: “We are very excited about the opportunity to acquire a number of historic and high-end casinos in the United Kingdom. The acquisition fits well with Silver Point’s focus on investing in high-quality businesses at opportune times.”
Metropolitan Gaming is led by US gambling executive Michael Silberling, the former President of International Properties for Caesars Inc and previous CEO of Affinity Gaming Las Vegas.
“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.” Silberling commented on Metropolitan Gaming ambitions.
“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.”