Acquisitions in Europe and Africa are finalised by Metropolitan Gaming Limited

Metropolitan Gaming Limited, a company founded by the American private equity hedge firm Silver Point Capital LP, has announced that it has acquired the land-based casino assets of Caesars Entertainment Corporation across Europe and Africa.

In a news statement issued on Wednesday, the Connecticut company said that on July 16, its subordinate finalised the acquisition transaction, giving it control over eleven gambling-friendly locations in the United Kingdom, Egypt, and South Africa.

Substantial security:

Silver Point Capital LP was founded in 2002 by Robert O'Shea and Edward Mule, two former partners of Goldman Sachs Group Incorporated, and it presently manages a diverse portfolio of worldwide assets estimated to be worth over $15 billion. Last month, the investor launched Metropolitan Gaming Limited in partnership with Lancer Capital Management, revealing that the new entity now owns the Emerald Resort and Casino in the southern Johannesburg suburb of Vanderbijlpark in addition to the prestigious Empire Casino in London's central Leicester Square.

In a statement, Mule says 

We are thrilled about the prospect of purchasing many venerable, high-end casinos in the United Kingdom. Silver Point Capital LP looks to make strategic investments in growing companies, and this purchase is consistent with that strategy.

Aiming high:

Together, Silver Point Capital LP and Metropolitan Gaming Limited want to build the startup into "a leading brand in the luxury and premium gaming sectors," as the former said. It was also revealed that three gambling-friendly businesses in Egypt's capital city of Cairo were acquired, along with the United Kingdom's Alea Nottingham, Manchester 235, Rendezvous Brighton, and Alea Glasgow.

Skilled commander:

Metropolitan Gaming Limited, based in London, has announced the appointment of Michael Silberling (pictured) as its first Chief Executive Officer with the acquisition of the assets from Caesars Entertainment Incorporated and Silver Point Capital LP. According to the announcement, the company's first leader has more than 25 years of expertise in the field, including stints as International Properties President at Caesars Entertainment Corporation, Affinity Gaming, and Mohegan Gaming & Entertainment.

In his explanation, Silberling said 

I am thrilled to be a part of Metropolitan Gaming Limited's fantastic team. I believe this team is ideally positioned to lead a strong comeback of the business, thanks to their experience and skills, and a partner that is dedicated to investing at this time. The world, the global economy, and the hotel sector have all been shaken by the coronavirus epidemic. Together with our staff, regulators, and local communities, we will provide our customers with an unrivalled, safe, and enjoyable experience that will keep them coming back for more.