The project to refurbish London’s famous Hippodrome and turn it into a casino, theater and celebrity restaurant has been taken on completely by the father-son team that previously owned one third of the joint venture.
Simon Thomas and father Jerry Thomas bought out their two partners for anundisclosed sum, according to Property Week.
Simon Thomas said, “Having successfully developed the project to this stage as part of a consortium, and achieved all the necessary permits and licenses, my father and I decided that we would like to see through the redevelopment as the sole operator and launch what is destined to become one of Europe’s top entertainment venues.”
The 74,250-square-foot space will be fitted with tables and slots, a 160-seat cabaret theater and a Gordon Ramsay restaurant. The article said talks are under way with Royal Bank of Scotland, Barclays and Norwich Union about funding for the plans.
The two former bingo operators sold Beacon Bingo three years ago for £80 million.
An online casino bearing the Hippodrome name will launch this summer.
The Hippodrome itself is scheduled for completion in early 2011.