Metropolitan Gaming

Last updated

Metropolitan Gaming
Formerly
  • London Clubs International
  • Caesars Entertainment EMEA
Industry Gaming, hospitality
Founded1981
Headquarters London, England, U.K.
Products casinos
Owner Silver Point Capital
Website metropolitangaming.com

Metropolitan Gaming is a British gaming company that operates eleven casinos in the United Kingdom and Egypt. It is owned by Silver Point Capital. The casinos began as part of Grand Metropolitan, and later became an independent company, London Clubs International. From 2006 to 2021, they were owned by Harrah's Entertainment and then Caesars Entertainment.

Contents

History

London Clubs originated as a chain of casinos owned by the conglomerate Grand Metropolitan. In 1988, Grand Metropolitan decided to sell its casino division to focus on its core businesses of food, beverages, and retail. [1] The next year, London Clubs became an independent company, when Grand Metropolitan sold an 80 per cent stake in the chain in a management buy-out for £128 million. [2] Its operations at the time comprised six casinos in London, one in France, and five on Cunard Line cruise ships. [3]

In 1991, British gaming regulators opened an investigation of London Clubs, focusing on alleged violations of casino regulations and questionable backgrounds of some of the company's shareholders. [4] The Gaming Board decided to oppose license renewals for the company's casinos in London. [5] Ultimately, London Clubs was able to satisfy regulators by replacing its top management and arranging for shareholder David Shamoon to sell his stock, and the casinos' licenses were renewed. [6] [7] [8]

LCI became a publicly traded company in 1994 when it was floated on the Unlisted Securities Market. [9] [10]

By 2001, LCI had developed severe financial problems, after its failed venture in the Aladdin Casino on the Las Vegas Strip. A combination of cost overruns, declining tourism, and poor design led to the casino filing bankruptcy in September 2001 and eliminating LCI's equity in the casino. [11]

In 2006, London Clubs International was acquired by Harrah's Entertainment. Before being bought by Harrah's, LCI was in negotiations with Stanley Leisure (England's largest casino operator) about a possible merger, but the latter were outbid by Harrah's. Genting Group, a Malaysian gaming giant, was also interested in LCI. "London Clubs is an important strategic asset for foreign gaming companies wanting to establish a footprint in the UK ahead of deregulation," said Matthew Gerard of Investec Securities. [12] Interest in British casinos had increased in 2006 due to legislation that allowed for larger "Vegas style" casinos.

At the time of purchase, LCI operated casinos in London, Southend, and Brighton, as well as in Egypt and South Africa. [12] It also had licences to build five additional casinos.

LCI is best known for being the host of the World Series of Poker Europe (WSOPE). The World Series of Poker is the most prestigious poker tournament in the world, and the WSOPE was the first time it held an event outside of Las Vegas, Nevada. [13] In 2007, Thomas Bihl became the first person to ever win a WSOP bracelet outside of Vegas. Bihl won the £2,500 World Championship H.O.R.S.E. at the World Series of Poker Europe at LCI. Days later, Annette Obrestad became the youngest player to ever win a WSOP bracelet at 18 years, 364 days, also becoming the first woman to win a World Series Main Event (Unlike Nevada, English gambling laws do not prohibit 18-year-olds from participating). [14] Harrah's Casinos, the owner of the WSOP, considers the WSOP Europe bracelet to be the same in prestige as those awarded every year in Las Vegas.

While no definitive plans have been announced, Pollack[ clarification needed ] indicated in February 2007 that other venues may start holding WSOP events. [13] Egypt and South Africa were mentioned as possible expansion sites because Harrah's owns casinos, via LCI, in those two locations. [15]

In 2010, Harrah's was renamed as Caesars Entertainment. [16] Caesars was acquired in 2020 by Eldorado Resorts, which then changed its own name to Caesars Entertainment. By this time, the former London Clubs were known as Caesars Entertainment EMEA.

In July 2021, Caesars sold its EMEA division to the newly formed Metropoitan Gaming, an affiliate of Silver Point Capital, for a reported £15 million. [17] [18]

In 2022, Metropolitan sold the Emerald Resort & Casino in South Africa to a group led by Tsogo Sun, to focus its business on the United Kingdom and Egypt. [19] [20]

Casinos

Egypt

United Kingdom

Online

Former properties

Related Research Articles

<span class="mw-page-title-main">World Series of Poker</span> Series of poker tournaments, held annually

The World Series of Poker (WSOP) is a series of poker tournaments held annually in Paradise, Nevada and, since 2004, sponsored by Caesars Entertainment. It dates its origins to 1970, when Benny Binion invited seven of the best-known poker players to the Horseshoe Casino for a single tournament, with a set start and stop time, and a winner determined by a secret ballot of the seven players.

<span class="mw-page-title-main">Harrah's Entertainment</span> American gaming corporation

Harrah's Entertainment was an American casino and hotel company founded in Reno, Nevada, and based in Paradise, Nevada, that operated over 50 properties and seven golf courses under several brands. In 2013, it was the fourth-largest gambling company in the world, with annual revenues of $8.6 billion. It was acquired in 2020 by Eldorado Resorts, which then changed its own name to Caesars Entertainment.

The World Series of Poker Tournament of Champions is an invitational freeroll poker event. The WSOP ToC has been played intermittently five times in the 21st Century with different formats. The four WSOP ToC events held from 2004-2010 did not count as official WSOP bracelets events, with the winners receiving instead a large trophy in the shape of the official World Series of Poker logo. In 2010, the WSOP Tournament of Champions returned with a new format more akin to a typical sports league All-Star Event format. 27 players vied for $1 million, with 20 of those players selected by the fans via online vote at the WSOP's website. Controversies over the inclusion of commercially sponsored players resulted in a hiatus in the WSOP ToC for over a decade. The WSOP ToC was reintroduced in 2022 as an official WSOP bracelet event.

<span class="mw-page-title-main">2007 World Series of Poker</span> Series of poker tournaments

The 2007 World Series of Poker (WSOP) began on June 1, 2007. The $10,000 (US) no-limit Texas hold 'em Main Event began on July 6 and was completed on the morning of July 18th. All events were held at the Rio All Suite Hotel and Casino in Las Vegas, Nevada, by Harrah's Entertainment, which has run the annual event since its purchase from the Binion family in 2004.

<span class="mw-page-title-main">World Series of Poker bracelet</span> Coveted prize in poker

The World Series of Poker (WSOP) bracelet is considered the most coveted non-monetary prize a poker player can win. Since 1976, a bracelet has been awarded to the winner of every event at the annual WSOP. Even if the victory occurred before 1976, WSOP championships are now counted as "bracelets". During the first years of the WSOP, only a handful of bracelets were awarded each year. In 1990, there were only 14 bracelet events. By 2000, that number increased to 24. As the popularity of poker has increased during the 2000s, the number of events has likewise increased. In 2011, 58 bracelets were awarded at the WSOP, seven at the World Series of Poker Europe (WSOPE), and one to the WSOP National Circuit Champion. This brought the total number of bracelets awarded up to 959. Five additional bracelets were awarded for the first time in April 2013 at the inaugural World Series of Poker Asia-Pacific in Melbourne, Australia. In 2017, 74 bracelets were awarded at the WSOP and an additional 11 will be awarded at the WSOPE in Czech Republic.

<span class="mw-page-title-main">World Series of Poker Europe</span>

The World Series of Poker Europe (WSOPE) is the first expansion effort of World Series of Poker-branded poker tournaments outside the United States. Since 1970, participants had to travel to Las Vegas if they wanted to compete in the World Series of Poker (WSOP). Although the WSOP held circuit events in other locations, the main tournaments, which awarded bracelets to the winners, were exclusively held in Las Vegas. The inaugural WSOPE, held in 2007, marked the first time that a WSOP bracelet was awarded outside Las Vegas. From its inception to the 2013 tournament, players from 19 countries — USA (10), France (4), UK (3), Denmark (3), Canada (2), Norway (2), Portugal (2), Italy (2), Afghanistan, Germany, Indonesia, Spain, New Zealand, Sweden, Tunisia, Switzerland, Australia, Italy and Finland — have won bracelets.

<span class="mw-page-title-main">2007 World Series of Poker Europe</span> Series of poker tournaments

The World Series of Poker Europe (WSOPE) is the first expansion effort of World Series of Poker-branded poker tournaments outside the United States. Since 1970, participants have had to travel to Las Vegas if they wanted to compete in the World Series of Poker (WSOP). Although the WSOP held circuit events in other locations, the main tournaments, which awarded bracelets to the winners, were exclusively held in Las Vegas. The inaugural WSOPE, held in 2007, marked the first time that a WSOP bracelet was awarded outside Las Vegas.

<span class="mw-page-title-main">2008 World Series of Poker Europe</span>

The World Series of Poker Europe (WSOPE) is the first expansion effort of World Series of Poker-branded poker tournaments outside the United States. Since 1970, participants have had to travel to Las Vegas if they wanted to compete in the World Series of Poker (WSOP). Although the WSOP held circuit events in other locations, the main tournaments, which awarded bracelets to the winners, were exclusively held in Las Vegas. The inaugural WSOPE, held in 2007, marked the first time that a WSOP bracelet was awarded outside Las Vegas.

<span class="mw-page-title-main">World Series of Poker Casino Employee Championship</span> Championship in the World Series of Poker gathering

The Casino Employees Championship is one of only three closed tournaments awarding WSOP bracelets at the World Series of Poker gathering. While most of the events are open to the general public, participants in the Ladies Championship, Seniors Championship, and the Casino Employees Championship must meet certain eligibility requirements. While these events are closed, the winner of these events is "afforded the same distinction as all gold bracelet tournaments." The WSOP bracelet is considered the most coveted non-monetary prize a poker player can win.

<span class="mw-page-title-main">2009 World Series of Poker Europe</span> Series of poker tournaments

The World Series of Poker Europe (WSOPE) is the first expansion effort of World Series of Poker-branded poker tournaments outside the United States. Since 1970, participants have had to travel to Las Vegas if they wanted to compete in the World Series of Poker (WSOP). Although the WSOP held circuit events in other locations, the main tournaments, which awarded bracelets to the winners, were exclusively held in Las Vegas. The inaugural WSOPE, held in 2007, marked the first time that a WSOP bracelet was awarded outside Las Vegas.

The World Series of Poker bracelet is considered to be the most coveted prize a poker player can win, but in most years there have been competitive events that did not award a bracelet to the winner. While most of these events are charity events or are related to poker, a few are not.

<span class="mw-page-title-main">Horseshoe Hammond</span> Casino in Indiana

Horseshoe Casino Hammond is a casino located in Hammond, Indiana. The 400,000-square-foot (37,000 m2) property containing gaming, entertainment, restaurants, bars, and lounges.

The fifth World Series of Poker Europe (WSOPE) took place from 7 October 2011 to 20 October 2011. There were seven bracelet events, culminating in the €10,400 WSOPE Championship No-Limit Hold'em event. Events were held at the Majestic Barrière Cannes and the Le Croisette Casino Barrière in Cannes, France. The 7 official gold bracelet events were complemented by a total of 51 other events in the two-week schedule, the most prominent of which is the €550 Ladies only event. ESPN broadcast the Main Event on its worldwide television network, and all official gold bracelet events streamed live on WSOP.com.

The World Series of Poker Africa (WSOPA) is the second expansion effort of World Series of Poker-branded poker tournaments outside the United States. Since 1970, participants had to travel to Las Vegas if they wanted to compete in the World Series of Poker (WSOP). Although the WSOP started holding circuit events in 2005 in other states, the main tournaments, which awarded bracelets to the winners, were exclusively held in Las Vegas. In 2007, the inaugural World Series of Poker Europe marked the first time that a WSOP bracelet was awarded outside Las Vegas. In 2010, the WSOP expanded overseas once again, only this time to Gauteng, South Africa. While the WSOPE awarded bracelets, the WSOPA was considered a circuit event with the winners receiving Championship Rings instead of bracelets. The WSOPA did not occur in 2011, but the series of tournaments resumed in 2012.

The World Series of Poker Asia Pacific is the third expansion of the World Series of Poker-branded poker tournaments outside the United States. Since 1970 participants have had to travel to Las Vegas, Nevada to compete in the World Series of Poker (WSOP). Although the WSOP started holding circuit events in 2005 in other states, the main tournaments, which awarded bracelets to the winners, were exclusively held in Las Vegas. In 2007 the inaugural World Series of Poker Europe marked the first time that a WSOP bracelet was awarded outside Las Vegas. The WSOP further expanded to Africa in 2010 and 2012 however these events did not award any bracelets.

<span class="mw-page-title-main">Loni Harwood</span> American poker player

Loni Harwood is a professional poker player who won a World Series of Poker bracelet at the 2013 World Series of Poker. She won two World Series of Poker Circuit events in 2012, then her second WSOP bracelet in 2015.

<span class="mw-page-title-main">Caesars Entertainment</span> American gaming company

Caesars Entertainment, Inc., formerly Eldorado Resorts, Inc., is an American hotel and casino entertainment company founded and based in Reno, Nevada that operates more than 50 properties. Eldorado Resorts acquired Caesars Entertainment Corporation and changed its own name to Caesars Entertainment on July 20, 2020.

Emerald Resort & Casino is a hotel and casino located at a private estate on the banks of the Vaal River in Vanderbijlpark, South Africa. The casino opened in 1997.

References

  1. ↑ "GrandMet on a roll but to quit casinos". The Sunday Times. London. 18 December 1988 – via NewsBank.
  2. ↑ Derek Harris (6 May 1989). "GrandMet selling six casinos to buyout team". The Times. London – via NewsBank.
  3. ↑ Clay Harris (6 May 1989). "GrandMet sells 80 per cent casino stake for 128 million pounds". Financial Times. London – via NewsBank.
  4. ↑ "London Clubs: Decision soon". The Observer. London. 29 September 1991 – via Newspapers.com.
  5. ↑ "London Clubs: Faites von jeux". The Observer. London. 15 March 1992 – via Newspapers.com.
  6. ↑ Michael Gillard (9 August 1992). "Deal on cards to save London Clubs". The Observer. London – via Newspapers.com.
  7. ↑ "Yard arrest in Revenue probe". The Observer. London. 30 May 1993 – via Newspapers.com.
  8. ↑ Chris Blackhurst (18 October 1992). "Casino war comes to court" . The Independent. Archived from the original on 12 May 2022. Retrieved 20 September 2020.
  9. ↑ Martin Flanagan (12 May 1994). "London Clubs deals a £125m flotation card". The Times. London – via NewsBank.
  10. ↑ "Casino stakes". The Independent. London. 3 June 1994 – via NewsBank.
  11. ↑ Reece, Damian (30 September 2001). "Aladdin failure puts LCI on edge". The Daily Telegraph. London.
  12. 1 2 "Casino giant to buy London Clubs". BBC News.com. BBC News. 31 August 2006. Retrieved 9 February 2009.
  13. 1 2 Warner, Eric. Stay classy, London: Jeffrey Pollack on the World Series of Poker Europe Archived 30 May 2009 at the Wayback Machine 27 February 2007. Pokerlisting.com Accessed 7/25/07
  14. ↑ Pokernews.com: £10,000 NLHE, Final Table: Annette Obrestad Makes History
  15. ↑ Bambach, Mike.World Series of Poker ups the ante, expands event to Europe 6-28-07. USA Today. Accessed 7/25/07
  16. ↑ "Harrah's controlling stake in London Clubs International". FinancialWire. 5 November 2006 – via NewsBank.
  17. ↑ Robert Fletcher (5 August 2021). "Metropolitan Gaming acquires Caesars' Europe and Africa casino businesses". iGamingBusiness. Retrieved 29 December 2021.
  18. ↑ "Caesars sells African casinos". Gaming for Africa. 28 October 2021. Retrieved 29 December 2021– via Issuu.
  19. ↑ Condensed Unaudited Consolidated Interim Financial Statements (PDF) (Report). Tsogo Sun Gaming. 24 November 2022. p. 24.
  20. ↑ "Metropolitan Gaming sells South Africa casino to Tsogo Sun". Gaming Intelligence. 13 September 2022. Retrieved 5 November 2023.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.