London Clubs International for Sale £160 Million
London Clubs International is for Sale
After the initial speculation in May that Goldman Sachs had been brought in to value the company it now has been reported that London Clubs International is for Sale
London Clubs has been Valued at £160 Million pounds. It is rumoured that the Emerald Resort and Casino in South Africa could be worth up to £60 Million leaving the remaining clubs worth a tidy £100 million. These Include
London Clubs International UK brands
The Golden Nugget
London Clubs International Overseas
The 2 Casino left certainly Bring the International to London Clubs International as these are based in Cairo.
Once the Rank Gala Deal had been confirmed it seemed for a while that LCI were no longer under pressure. In retrospect this only seems to have clarified the situation for Caesars and they want to sell. London Clubs International was initially purchased in 2006 for over £300 million and this was fuelled by the promise of deregulation within the UK casino gaming laws. We are still waiting for that !
London Clubs International Bidders
Its seems that there are 2 parties already interested in making a bid for LCI, a French rival firm Lucien Barriere which already operates a number of hotels and Casinos
The other bid is a management buy out team from London Clubs International. All this comes with the added pressures of the Hippodrome to open any time soon in LSQ next to LCI’s flagship casino, The Empire @ LSQ and that London Clubs have also lost a lot of key personal to the Hippodrome which of course need replacing and training