UK gambling regulators have revoked the license issued to the Park Lane Casino due to concerns over how the company’s new ownership financed the deal.

On Wednesday, the UK Gambling Commission (UKGC) announced that it had revoked the gaming license issued to Silverbond Enterprises Ltd, which operates the swanky members-only (£1k fee per year) Park Lane Casino at the Hilton Hotel in London’s Mayfair region.

The decision, which was made October 21 but only made public this week, came following a hearing with the UKGC’s Regulatory Panel. The revocation will become official on November 18 unless Silverbond mounts an appeal of the decision. The casino’s website currently features a notice saying it was closing “for a while” but this is likely a reference to the government’s second pandemic lockdown of non-essential retail operations. 

The UKGC said there’d been a “change in corporate control” at Silverbond and the regulator was “not satisfied” that it would have issued the venue a gaming license had the new controller been in control at the time the license application was first made.