Metropolitan Gaming sells interest in South Africa’s Emerald Resort and Casino

Post Views: 84

UK-based casino operator Metropolitan Gaming has sold its stake in South Africa’s Emerald Resort and Casino to a local consortium. Tsogo Sun, a gaming and hospitality group headquartered in Johannesburg, led the bid to acquire Metropolitan’s interest in Emerald.

The property is located in the city of Vanderbijlpark, which in turn is situated on the Vaal River in South Africa’s Gauteng province.

Michael Silberling, CEO of Metropolitan Gaming, expressed his gratitude to Emerald’s current and former team members. He commented:

“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.”

This sale is part of an effort by Metropolitan to concentrate its resources elsewhere, namely the UK and Egypt. Headquartered in London, Britain is Metropolitan’s home market and has, in recent months, been the focus of significant investment. The group currently operates six casino licences in London and eight branded casinos throughout the UK, including the Park Lane Club, whose purchase was completed in June.

What’s more, work is underway on the refurbishment and rebranding of Metropolitan’s Mayfair property, scheduled to reopen later this year.

Regarding Metropolitan’s strategy, Silberling remarked:

“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.”

Source: gamblinginsider.com