On August 30th, 2012, the Aspers casino in Swansea was shut down when it was declared financially unviable over the long term period. Worth at least £13 million, Aspers now plans to reopen at Wind Street, Swansea. Finding the current economic climate more suited maintaining a casino as a long term investment, a spokesman revealed the decision to open the doors of the Swansea Casino to South Wales Evening Post. The new Swansea is set to open under the current positive economic situation in South Wales. The spokesman also explained that the new Swansea Casino is scheduled to be smaller than its predecessor so it can better cater to the local market.
Reasons for closure
Once Wales’s largest casino, the Swansea Casino had a spectacular five year run before it was closed down. During its original run, over 10,000 people used to come in every week and it successfully made £4.5 million within its first year of trade. The original closure had left the owners disparaged, but they had retained two of their casino licenses with a view to reopening should the economic climate in Wales improve. Researchers are currently looking into the potential long term returns on the Swansea Casino and an announcement is to be made once they have completed their report.
Aspers Casinos and Swansea
Aspers is one of the leading casino companies in the UK and has enjoyed tremendous success with their casino in Stratford, London. Another casino at Milton Keynes has also proved to be quite a success story. When they originally closed the Swansea Casino in 2012, over 100 people lost their jobs. Russell Greenslade, the Chief Executive of Swansea Business Improvement District welcomes the return of the casino, and is glad that Aspers views Swansea as a location with potential viable financial returns. Currently, there is only one other casino in Swansea operated by Grosvenor.