Operator News
UK – Birmingham City owner to buy Les A for £244m
By Phil - 8 September 2017
London’s high-end Mayfair casino Les Ambassadeurs is on the wish list of Birmingham City FC owner and energy tycoon Paul Suen Cho Hung who is considering buying it for £244m.
Current owner Landing International Development officially put the VIP property on the market this week after owning it for just 18 months in order to concentrate on its investments in South Korea.
Mr. Suen is one of the UK’s richest Chinese investors.
Landing bought Les Ambassadeurs Club for approximately £131m in April 2016. The transaction will further enhance the company’s cash flow and allow it to focus its resources to develop Jeju Shinhwa World, the integrated leisure and entertainment resort in Jeju, Korea, while remaining in a good position to invest in any opportunities with good prospects of growth and profitability in other emerging markets in Southeast Asian regions.
Dr. Yang Zhihui, Chairman and Executive Director of Landing, said: “The leisure and entertainment industry in Southeast Asian markets has high potentials with ample business opportunities. The vibrant economy in the region has created an affluent of tourists demanding for high-quality leisure and entertainment experience to visit world-class tourism destinations in various regions. We are currently developing the first large-scale iconic luxury leisure and entertainment destination resort Jeju Shinhwa World in Jeju, Korea. Opening of Jeju Shinhwa World has commenced in stages since April 2017. At the same time, we are looking for opportunities to diversify into emerging markets in Southeast Asia by investing in projects with high growth potential and favourable investment terms, including seeking out opportunities in the Philippines, so as to establish “Landing” into a renowned leisure and entertainment brand.”
Les Ambassadeurs Club is operated pursuant to the operating licenses and a casino premises license issued under the Gambling Act 2005 by the City of Westminster. The Club provides 45 gaming tables offering a variety of games including American roulette, baccarat, blackjack, three card poker.
