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With a new tax regime, new legislation, a change of Prime Minister and a smoking ban, there’s no lack of activity in the British Casino market. If existing casinos established under the 1968 Licences are under pressure, the proposed New 2005 Act Licences are providing the market with some welcome stimulus. For Jones Lang LaSalle, this all means advising leading player Stanley Casinos on a wide array of property matters - including acquisitions, disposals, rent reviews and professional work.
Our game lies in the depth and breadth of our experience, and the wealth of knowledge rooted both in the UK and the international leisure markets. In Stanley’s case, our expertise is being applied to both the existing 1968 and the proposed 2005 Licences. We are reviewing a number of existing 1968 licensed premises, advising on both relocations and disposals. At the same time, with the proposed 16 new licence locations recently approved by the UK government, this is a highly competitive acquisition arena with a number of operators, both UK and International based, seeking to gain representation in these new markets.
Working closely with Genting Stanley helped achieve development partner status at The NEC, Solihull. This is a major win and work now carries on to win the licensing bid for the £90m mixed use leisure scheme, to include casino, hotels, cinema, bars and restaurants.
The other plans we are developing with Stanley remain under wraps but – as they say - winner does take all.