SBC News Metropolitan to divest South African casino properties to bolster UK growth

Metropolitan to divest South African casino properties to bolster UK growth

Metropolitan Gaming has offloaded its South African casino interests in a move that the firm has said is reflective of a focused strategy to invest and develop facilities across primary markets.

After purchasing 11 venues across the United Kingdom, Egypt and South Africa from Caesars Entertainment in August 2021, the casino and entertainment firm added the Park Lane Club London in June 2022 in what was reported as “an excellent addition”.

This latest development has seen the sale of its interest in Emerald Resort and Casino, which is located in the South African city of Vanderbijlpark, be made to a consortium controlled by Tsogo Sun.

This divestment, said Metropolitan, will allow an enhanced focus to be placed on its “core markets” of the UK and Egypt, where it is looking to build its brand through acquisition and investment.

Within the former of those jurisdictions, work is already said to be underway through the refurbishment and rebranding of its aforementioned Mayfair property that is set to reopen later in the year.

Michael Silberling, CEO of Metropolitan Gaming, said, “Following the addition of the iconic Park Lane Club to our portfolio of casinos in the UK earlier this year, the sale of our interest in Emerald Resort and Casino reflects our focused strategy to invest in and develop the business within our primary markets.

“We want to thank all our employees at Emerald Resort and Casino past and present for their hard work, professionalism and loyalty, particularly during the global COVID-19 pandemic. We very much look forward to following their progress and successes over the years to come.”

Metropolitan Gaming currently operates six casino licences in London and eight branded casinos throughout the UK, including Empire Casino, The Sportsman, Rendezvous Brighton, Manchester235, Alea Nottingham and Alea Glasgow. The company also boasts three casinos that are situated in Cairo, Egypt.

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