Renovation of the London Park Lane Club and plans for Eurovegas in Madrid

Last week, the gambling group Metropolitan Gaming Limited reported that the purchase of the Lane Club Park in London was successfully completed. The subsidiary The company has acquired the casino for an unknown sum. Also last week, The Cordish Companies submitted an application for approval for a “Eurovegas” in Madrid.

Turbulence in the history of Park Lane Hotel

The Park Lane Club is located in the central London district of Mayfair, which is known for elegant houses, exclusive restaurants and luxury hotels. Since the casino was opened in 2014, the offer has been aimed specifically at wealthy customers, mainly Russian oligarchs. But despite the noble location and the well -heeled customers, this is Casino Not excluded from scandals: The British Gambling Commission-UKGC for short-made a fine of 1.8 million GBP three years ago-the equivalent of 2.1 million euros-due to violations of the guidelines for combating money. In addition, the Park Lane Club is said to have neglected its social responsibility and the Russian oligarch and Silverbond owner Vasilijs Melniks is also accused of being involved in serving corruption scandal. Finally, the Casino 2020 finally lost its license. The UKGC justified this with doubts about the seriousness of Silverbond Enterprises.

Changes by new owners

Now the Park Lane Club belongs to Metropolitan Gaming Limited and the new team is already looking forward to welcoming visitors. Silverbond Enterprises Limited carried out the transaction and Memery Crystal LLP and Stevens & Bolton LLP would have been responsible for the legal advice of the mother corporation. After the successful business, the CEO of Metropolitan Gaming – Michael Silberling – commented as follows: “We are enthusiastic about our legendary Park Lane Club Casino-Portfolio Add to Great Britain […] and we have exciting plans to invest in business and to develop it further. ”

These changes include the name change of Park Lane Club in Metropolitan Park Lane. In addition to a lounge and bar, guests can also stay in a private gaming room or an outdoor gaming terrace over two floors at the Hilton Hotel in Mayfair-a district of London-in addition to a lounge and bar. It will be shown whether this is also offered after the renovation. Nevertheless, the casino should remain open during the renovation.

Big plans for Madrid

In contrast, an entertainment and gambling resort in Madrid should be opened. The Cordish Companies- an American real estate and entertainment company- plans such a construction in the Spanish capital. But even if the approval for the project has been applied for last week, there are doubts as to whether a “EuroVegas” is being created in Madrid.

In the “Live! Resorts Madrid ”should have several hotels with upscale equipment and wellness areas, shopping for games of chance, a concert hall, a theater, a broadway, an event center and also conference and conference rooms. Whether the company gets the project approved seems doubtful. After all, it is not the first attempt by the Cordish Companies to build a “EuroVegas”. In 2016 the live! Resorts Madrid once rejected on the grounds that “the activation of an integral resort […] is intended in an absolute exception in the law it all necessary for this type of center [brings] , including the approval of a casino, of which there are only two in [Madrids] community ”.

Exception now?

An exception, for example, would have had if the project had not only had the core offer, but could have had additional tourist activities, health, trade or cultural activities, i.e. had a permanent impact on the economic, cultural and social development of the Madrid community. In addition, 340 million $ from public funds should have been invested in the necessary infrastructure. It is not yet known whether the project has changed sufficiently to meet the criteria. But whether the new MPs who are responsible for the decision in the government will decide differently.