Caesars Sells African Casinos Caesars Entertainment has sold its African and European casino businesses to Silver Point Capital’s investment company Metropolitan Gaming in a deal believed to be worth £15-million plus carrying the company’s pension fund. IT IS understood from sources within the company that the Egyptian casinos, Caesars Cairo and the Kings & Queens Cairo and Ramses Cairo and that in South Africa, the Emerald Resort and Casino have been sold off to local operators. The total deal comprises 11 casinos in total with 4 in Africa and 7 in Europe. At present there has been no clarification on whether the deal to acquire all Caesars EMEA venues includes retaining the brand name. Silver Point plans to provide investment and strategic support to the business and work to develop Metropolitan as a leading brand in the luxury and premium gaming sectors,
Metropolitan said. “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,” said Edward Mulé, Founding Partner of Silver Point. Metropolitan Gaming also announced that former Mohegan Gaming COO Michael Silberling, has been appointed as CEO. “I am excited to join the amazing team at Metropolitan Gaming. 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.” Regarding future plans, Silberling describes Metropolitan Gaming as focused on job creation and investment as the company partners with employees, regulators and the community “to create a safe, fun and memorable experience” for customers. Metropolitan Gaming Holdco Limited is a new gaming entity, created on July 12 by the combination of Silver Point Capital and Lancer Capital Management, both U.S. based private equity companies.
New Lease of Life for South Africa’s Second Oldest Casino Resort Wild Coast Sun has reason to celebrate, having just been awarded a 20 year gaming licence on the eve of the property’s 40th birthday celebration this month. THE WILD Coast Sun was opened in 1981, two years after the launch of Sun City. The Resort straddles the Eastern Cape side of the Mtamvuna River border with KwaZulu-Natal. Transkei Sun International limited, which
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owns The Wild Coast Sun Resort, has been in discussions with the Eastern Cape Gambling Board (ECGB) to renew its casino licence. Graham Wood, Sun International’s Chief
Operating Officer for hospitality said, “It has been a long road, but we are delighted to now have a 20-year casino licence, which will expire in 2041. We have worked very hard with our partners, The Mbizana Development Trust and The Mgungundlovu Communal Property Association to secure our casino licence. This brings certainty to our employees and our surrounding communities.” For the past 40 years the property has also positively contributed to the Eastern Cape Provincial fiscus through its contribution in taxes, gaming fees and levies. The Resort also provides support to the surrounding community through its various social and enterprise development efforts. The Wild Coast is Sun International’s only beachfront Resort where visitors can step out of their hotel and onto the beach. From its earliest days as a casino and hotel the property has grown into what is now an exciting beach Resort with an endless array of fun activities for the entire family to enjoy. Continued on page 30
