This article first appeared in The Edge Financial Daily on September 27, 2017 - October 3, 2017

KUALA LUMPUR: Genting Group is selling its Kensington, London-based casino Maxims for at least £40 million (RM225.92 million), a decision that may have been prompted by Maxim’s location, speculated to have caused the casino to lose business, Casinopedia reported.

The portal also said Genting has brought in property consultancy firm CBRE to handle the sale of the casino, which it has operated for more than a decade.

The casino is housed within Victorian townhouse Palace Gate House constructed in the 1860s for John Forster, friend and biographer of Charles Dickens.

The casino’s Kensington location helped set it apart from the majority of the capital’s more exclusive casinos, most of which are based in the centre of Mayfair.

However, the portal said “according to some reports, this location issue may have caused Maxims to lose some business in recent years, contributing towards Genting’s decision to sell”.

It also cited Genting as saying in a statement earlier this year that it may be prepared to listen to offers for Maxims.

“Genting owns a number of properties around the UK, including attractive London locations, and we are frequently approached by interested parties. In certain cases, we are open to sensible conversations about these opportunities,” Genting was quoted as saying.

Genting is reportedly one of the UK’s largest leisure companies and holds the licences for 42 UK-based casino facilities.