UK-based casino operator Metropolitan Gaming, itself acquired by Silver Point Capital in 2021, has sold its stake in South Africa’s Emerald Resort & Casino to a local consortium led by Johannesburg based Tsogo Sun.
The prestigious Emerald Resort & Casino is located in Vanderbijlpark, on the Vaal River in South Africa’s Gauteng province, and is a hugely popular tourist destination. The venue will become the 14th in a Tsogo Sun portfolio that spans the country from The Ridge and Montecasino in the north, through to Hemingway’s, The Caledon and Garden Route in the south. Tsogo Sun also operates Galaxy Bingo, VSlots, Marco Polo and the online bookmaker, bet.co.za
Commenting on the sale, Michael Silberling, CEO of Metropolitan Gaming, expressed his gratitude to Emerald’s current and former team members: “We want to thank all our employees at Emerald Resort & Casino past and present for their hard work, professionalism and loyalty, particularly during the global Covid-19 pandemic. We very much look forward to following their progress and successes over the years to come.”
The UK is home to Metropolitan and recent months have seen significant investment in this market. The Emerald sale is a key element in a strategic plan that sees focus directed at the UK and Egypt. The group operates six casino licences in London and eight branded casinos throughout the UK, including the Empire Casino in London’s Leicester Square.
As Michael Silberling confirms: “Following the addition of the iconic Park Lane Club to our portfolio of casinos in the UK earlier this year, the sale of our interest in Emerald Resort & Casino reflects our focused strategy to invest in and develop the business within our primary markets.”