Genting put £40m London casino for sale
Asia focused casino operator, Genting Malaysia have put Maxim’s Casino Club in London up for sale, with an estimated asking price of £40m. UK based CBRE, a property consultancy who have been tasked with the sale, confirmed the news earlier this week.
Genting currently own 42 casinos in the UK operating all of them except for the Maxim club, which is operated by London based company Coastbright Limited, a subsidiary of Genting Singapore.
The news follows Hong Kong based Landing International put their similar luxurious London based Les Ambassadeurs up for sale earlier this month. Both deals reflect a shift in many South East Asian gambling operators who are now looking at the emerging Asian markets to fuel their future growth. As a result it is possible that we will see more sales of London and other European gaming properties in order to raise funds for companies who are looking to refocus their investments.
The properties are still popular and profitable along with being a safe investment thanks to the strength of London properties prices. The sale is for the freehold which should increase the interest of potential buyers.
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