Fladgate’s leisure team has advised Saw Close Casino Limited (SCCL) on the real estate aspects of its sale to Austrian based Century Casinos Europe GmbH, whose parent company, Century Casinos, Inc. is listed on NASDAQ. This is Century Casinos’ first acquisition in the UK.
SCCL had previously agreed a 30 year lease for a £5m, 15,000 sq ft casino development in the centre of Bath. The casino will offer 18 gaming tables, 35 slot machines and 24 automated live gaming terminals and will form part of a mixed-use leisure development, which will also include a 147-bedroom four-star hotel and two restaurants.
Fladgate’s construction team will now advise Century Casinos on the construction and fit out works, with the casino scheduled to start operations in the first quarter of 2018, subject to receipt of the regulatory and governmental approvals.
Erwin Haitzmann and Peter Hoetzinger, Co CEOs of Century Casinos, said: “We are excited about the opportunity to enter the UK gaming market with the addition of the Saw Close Casino to Century’s portfolio. We believe the casino in Bath has the potential to provide an attractive return on our investment.”
The Fladgate team was led by leisure partner Stephen Lewis.