Caesars UK Sold To Investment Company

According to sources close to the business Caesars Entertainment EMEA has been sold to a private equity company based in the US. Although it is understood the deal is not finalised the fee of around £15 million for all the Caesars properties in the UK and Egypt have been sold to Silver Point Capital.

The deal on whether Silver Point Capital will be the ultimate investor or is handling the deal on behalf of a client is not clear with both sides not officially confirming the sale.

Caesars Entertainment the US casino giant acquired the total assets of William Hill recently in a deal worth £2.9 billion, however the casino operator stated when it officially acquired the bookmaker in April that it wanted only the US side of the business and has put the UK and European business up for sale.

It is expected that would generate somewhere in the region of £1.2 billion, Caesars has made it clear that it wants to focus on its US business and in particular its sports betting growth and with William Hill it wants to expand rapidly.

At this point it is not clear if Silver Point Capital is looking at a bigger deal to acquire the William Hill assets as well but with the deal for all casino operations from Caesars in the UK and Egypt is agreed according to sources.

The strategy to make Caesars Entertainment in the UK profitable is not clear, many of the sites underperform and only a handful within London makes a profit. One idea would be to close or sell off those loss making venues and keep the rest, another would be to sell off all non-London casinos and only keep London based operations.

Currently Caesars UK have: the Empire Casino, The Sportsman, Playboy London, Manchester 235, Alea Nottingham, Alea Glasgow, Rendezvous Brighton, Ramses Cairo, The Kings & Queens Cairo, Caesars Cairo and Emerald Resort in Africa.

The iGaming Post has contacted both Caesars and Silver Point Capital for comment but at the time of writing this article neither has responded.