Sale of Ricoh Arena's Isle of Capri Casino is agreed
Posted by Epiphany Solutions on 27 Apr 2009 at 15:04
The agreed sale of a casino in Coventry has been announced, with Grosvenor Casinos snapping up the facility at the Ricoh Arena in a £650,000 deal.
More than 100 people have had their jobs saved by the news, which will also see £1.6 million worth of investment from Grosvenor as part of a plan to turn the site into a member of its 'G Casino' chain.
The Coventry Telegraph reports about 120 people who work at the casino were told their positions were safe after the deal was agreed.
Grosvenor is owned by Rank, one of the country's biggest gaming firms, and will turn the Isle of Capri casino into its eighth 'G Casino', with more than £1 million going on re-branding and refurbishment. Management of the site is transfer to Grosvenor immediately.
Quoted by the Coventry Telegraph, Daniel Gidney, chief executive of Arena Coventry Ltd, said the deal was "very good news" for the Ricoh Arena and for the city.
He said: "Rank is a world-renowned leisure and entertainment group with a proven record in the gaming sector and adds to the increasing number of alliances the Ricoh has with global names."
The sale comes less than two years after the Isle of Capri casino opened, under an American Company.
Earlier this year it was revealed the casino could close, and executives said changes in government gambling policy were to blame.
The search then started for a buyer, with the American owners looking for a UK operator but warning if nothing came up the facility would be shut, possibly leading to the loss of about 120 jobs.
According to the Coventry Telegraph, executives have said most of the workers will transfer over to Grosvenor following the successful sale, and some of them will go to parent firm Blue Chip.
Gamers can expect an overhauled venue with a restaurant, bar, and a sports lounge. Games will include the usual roulette and blackjack options plus a poker room and gaming machines.
Grosvenor Casinos managing director, Phil Urban, said he was "excited" by the idea of opening a G Casino as part of the Ricoh Arena, which is also home to Coventry City Football Club.
Quoted by the newspaper, he added: "My team is looking forward to working with Arena Coventry Limited – which operates the Ricoh Arena – to contribute to the success of one of the best multi-purpose leisure venues in the country."
