UK casino group Napoleons has secured a substantial out of court rent reduction on a 10-year lease on its London casino.
Napoleons operates six casinos and restaurants in London, Leeds, Bradford, Hull and Sheffield. The privately-owned company opened its London casino at Leicester Square 24 years ago.
Yorkshire law firm hlw Keeble Hawson helped the company secure the new deal.
"This has been a protracted and challenging case that flags up the need for landlords to be flexible with commercial rents in the current economic climate,” said Gareth Owen, partner in the company’s property team. “It is thanks to all advisers working in partnership that we managed to settle this out of court and achieve a significant reduction for Napoleons on the rent on their well-known Leicester Square casino."
Mark Allen, group director at Napoleons, said the company was pleased to be able to continue to operate at the “well established” London site.
“Thanks to the collaborative efforts of our advisers the new lease gives us continued stability.”
