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UK – Grosvenor Victoria Casino up for sale for £70m

By - 1 March 2017

Aprirose Investors has appointed Knight Frank and Savills to promote the potential sale of the Grosvenor Victoria Casino for an asking price of around £70m.

An agreement is in place whereby Rank will remain as the operator of the casino leasing it back from its owner until 2026.

Aprirose secured the freehold sale of the Grosvenor Victoria Casino in Edgware Road for £55.5m just three years ago.

Regarded by many as the spiritual home of London’s poker scene, the Victoria Casino is one of London’s largest and best known.

It attracts approximately 1,200 to 1,400 customers per day and as one of the best performing casinos in London, there is a strong loyal customer base. The casino’s cardroom, better known to poker players as ‘The Vic’, has 35 tables and can seat 250 players, hosts high-stake cash games and major tournaments. The venue also has two bars and restaurant facilities that overlook the gaming floors.

Manish Gudka, Chief Executive at Aprirose, said: “The Grosvenor Victoria Casino is a London West End institution that makes an attractive investment for potential buyers. We have appointed our advisers to dispose of the asset as we look to exit in line with our investment strategy at the time of purchase.”

Jonathan O’Regan, Director of central London investment at Savills, said: “The marketing of this asset presents an outstanding opportunity as London casinos are rarely offered to the open market. The casino sector is performing well in London and Grosvenor Casinos, the UK’s biggest brand, is an excellent covenant for this asset.”

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