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MGM and Peel team up for UK casino ventures
MGM Mirage, the US-based gaming and entertainment giant, has made yet another deal to develop casinos in the UK – a £650m ($1.1bn) agreement with UK-based property developer, Peel Holdings.
MGM and Peel announced today that they have agreed the terms of a strategic alliance which will see them develop leisure, entertainment and gaming facilities in Liverpool, Manchester, Salford and Glasgow.
The first scheme will see a casino and related leisure facilities developed in the 125-acre, Peel-owned Glasgow Harbour.
A similar facility will be built at Sportcity in East Manchester, adjacent to the City of Manchester Stadium.
In Salford, an outline planning application has been sent to the City Council to develop a 20,000-seat sports stadium, casino and hotel adjacent to the M60 motorway and Manchester Ship Canal.
Finally, a formal expression of interest has been submitted to Liverpool City Council to develop gaming and leisure facilities on the King’s Waterfront.
All the projects are contingent upon the implementation of the planned UK gaming reform, but, if they go ahead, would bring significant regeneration and tourism benefits to the areas – a condition likely to be included in the government’s final gaming bill.
Terry Lanni, Chair and CEO of MGM Mirage, said: “The combined resources of MGM Mirage and Peel create an important alliance that we believe will lead to the development of entertainment venues that could transform the leisure opportunities available to those in and around Liverpool, Manchester, Salford and Glasgow.”
MGM has already secured several deals the length and breadth of the UK, planning to open casinos in Sheffield, Newcastle and London’s Earls’ Court.
The group has also recently raised its bid for gaming company, Wembley, which, if its acquisition plans are successful, would give MGM access to all of Wembley’s UK dog tracks and the potential to develop casinos there.
Property and transport company, Peel Holdings’ assets include the £900m Trafford Centre in Manchester, Liverpool John Lennon Airport and Robin Hood Airport Doncaster Sheffield. Details: www.mgmmirage.com or www.peel.co.uk
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