Sydney Mitchell has helped save 120 jobs by finalising the acquisition of two casinos in the region.
The Castle casino in Wolverhampton and the Rubicon in Dudley both went into administration in March of this year. With the assistance of Sydney Mitchell both have now been acquired by casino chain Casino 36.
Casino 36, which currently has a casino in the North West of England, has been looking to expand by acquiring new sites. With the appropriate expertise in order to manage the two casinos, the take over made perfect sense.
After working with Sydney Mitchell on a number of business matters Casino 36 turned to the firm to assist them with this transaction.
Acting on behalf of Casino 36 were the commercial and insolvency teams at Sydney Mitchell. John Irving and Kam Majevadia managed and negotiated the successful and swift purchase of the two sites.
"It was imperative that the transactions were performed quickly in order to secure the jobs for the staff at the two casinos and to deal with the regulatory issues. The deal was turned around and completed in just over a fortnight" says John Irving, Partner at Sydney Mitchell.
"As unfortunate as it was for the Rubicon and the Castle casinos to run into difficulties, being able to help Casino 36 in the take over has helped soften the blow and it has meant that the 120 employees over the two sites still have their positions coming up to Christmas" says John.
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