Metropolitan Gaming will own Caesars casinos in Europe and Africa
Metropolitan Gaming, which belongs to Silver Point Capital consortium, has completed the acquisition of the European and African casino business of Caesars Entertainment. Financial terms of the agreement were not disclosed. It was previously reported that Metropolitan completed the deal last month, but announced the results only today.
Note that Metropolitan now owns a number of casinos in 11 countries around the world, including Egypt, South Africa and the United Kingdom. In Foggy Albion, in particular, it operates the popular Empire gambling establishment in Leicester Square, London.
The owner of Metropolitan Silver Point previously said he would provide investment and strategic support to his subsidiary business and plans to work with its management team to develop Metropolitan as a leading brand in the luxury and premium gambling markets. He shared these thoughts with the press after the deal was finalized.
“We are very excited about the opportunity to buy a number of historic and upscale casinos in the UK. This acquisition aligns well with Silver Point’s focus. We are committed to investing only in high quality properties,” said Silver Point founding partner Edward Moulet.
To mark the deal, Metropolitan has appointed experienced casino development specialist Michael Silberling as its new executive director. In this position, Silberling will oversee the business, including the recently acquired gaming properties.
“Society, the global economy and the hospitality industry have been rocked by the COVID-19 pandemic. But this team is well positioned to deliver steady and rapid growth with its tremendous experience and expertise. It’s also important to recognize our partners who are eager to invest,” Silberling said.
As a reminder, BGaming became the official partner of the world’s first bitcoin casino, BetBit.