Genting UK dumps London casino over weak sales

Genting UK has spent the past several years trying to find someone willing to take the Maxims Club Casino in Kensington, UK off its hands. It has finally found a buyer and its parent company, Genting Malaysia Bhd, announced last Friday that it has sold the casino’s operator, Coastbright Ltd., to a Canadian company for $45.6 million.

Sonco Gaming Inc., along with several investors, is the new owner of Coastbright and Maxims. The Canadian company is mainly involved in the ownership and operation of gambling venues around the globe.

Maxims was once an exclusive casino in Kensington, a borough of London. It is located in a 19th century building that was once owned by a friend of Charles Dickens in one of the wealthiest parts of the UK. It has been competing with other exclusive gambling facilities and never gained the traction Genting expected. The gambling operator purchased the venue about ten years ago and continued slow performance has had it looking for a new owner for several years.

The Maxims brand covers other types of facilities, as well. It is found in casino resorts owned by Genting in Asia, but it isn’t clear whether or not the sale will force changes in those branded offerings.