London Hilton on Park Lane Family-friendly London hotel in London City Centre, walk to Hyde Park Along with 3 restaurants, this hotel has a full-service spa and a casino. Other amenities include a nightclub, a fitness center, and a bar/lounge. The London Hilton on Park Lane is a hotel situated on Park Lane, overlooking Hyde Park in the exclusive Mayfair district of London. It is 101 metres (331 ft) tall, has 28 storeys and 453 rooms including 56 suites and a Michelin starred restaurant Galvin at Windows on the top floor of the hotel.
One of Mayfair’s most famous high-end casinos has had its gaming licence revoked amid a growing controversy about the identity of its owner who remains anonymous due to “risk of violence or intimidation”.
With its crystal ceilings, luxurious restaurant and bars, The Park Lane Club, situated in the world renowned Hilton hotel, is one of the most prestigious casinos for high rollers in London.
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Its millionaire clientele can play the roulette and blackjack tables with terrace views over Hyde Park, served by a total staff of 143 croupiers and other entertainers.
But it has been dogged with controversy in recent years, culminating in the Gambling Commission revoking its licence last month over concerns over the source of funds used to buy and operate the famous club.
The casino operator owning the licence is a company called Silverbond Enterprises, which made a profit of nearly £5 million at the club from £31.8 million turnover last year.
© Provided by Evening StandardClub employs 143 entertainers
xThe ban raises serious questions over whether Silverbond’s auditors, Deloitte, and bankers NatWest had raised red flags earlier at the business which has a long track record of run-ins with the regulator over moneylaundering controls.
Outsiders in the industry had assumed the Commission’s ban referred to Silverbond’s 2014 takeover by a Latvian businessman who was accused four years later in a Ukrainian court of fraud and moneylaundering.
However, it has now emerged that the businessman, Vasilij Melniks, quietly sold Silverbond in 2018.
It appears that it was that 2018 takeover, and the new owner, which has aroused the Commission’s concerns.
Yet the new owner has used a little-known UK rule known as a “Section 790ZG” allowing people controlling a company to hide their identity at Companies House if they are “at serious risk of violence or intimidation” due to their business’s activities.
Silverbond’s shares are listed as being owned by a Geneva service company called SOGIP, which has an Italian banker, Ricardo Tattoni, on the board.
But the identity of the actual owner, or “controller” in legal terms, is impossible to tell.
At the time of the takeover, accounts suggest an £18 million loan to the company from Melniks was paid back to him and extended by the new owner.
Anonymity “ludicrous”
Former casinos regulator Graham White said: “It seems incredible that the ownership of casinos in this country can be a secret. I find it quite staggering, frankly.
“And we need to know fuller details about why the licence was revoked. What due diligence did the Commission do on the past owner and what on the present owner?”
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He said it was “ludicrous” someone could own a business anonymously in such a publically sensitive industry, where risks of problem gambling and moneylaundering are so high.
Problem gamblers and £2m cheques
The Park Lane Club is no stranger to the type of casino problems to which White was referring.
It was fined £1.8 million last year by the Commission for failings in its anti-money laundering and “social responsibility” duties. The Commission found it had failed to recognise potential problem gambling signs including a customer being violent, threatening staff and damaging property.
On the moneylaundering breach, it had failed to carry out the enhanced due diligence checks it should have done on 61 of its top customers. One who was not checked was a politically exposed person who should have been flagged immediately.
Prior to that, in 2016, the regulator found it had improperly allowing three customers to cash cheques of up to £2 million without adequate money laundering checks.
Questions asked in parliament
Separately, after reports of Melniks’ legal troubles in Ukraine hit the Press in 2018, MP Chi Onwurah asked in parliament whether the Commission had done proper due diligence on him before granting him the licence.
Tracey Crouch, then Culture undersecretary said the Commission assured her it made “enhanced and significant” investigations.
Melniks, who has denied the Ukrainian charges against him, appears to have exited the business in the same month as that parliamentary question.
Silverbond says its clientele is largely of “Middle Eastern and Asian origin”.
What the company says
Silverbond compliance director Debbie Dunn told the Evening Standard today: “Silverbond Enterprises are currently going through a protracted corporate change of control process with the Gambling Commission following new ownership in October 2018.
“We are unable to comment further to save prejudicing the ongoing legal process but can confirm that recent decision from the Gambling Commission is strongly contested and an appeal has been submitted against that decision.
“The premises can continue to trade during the appeal process.
“Following the sale of the company in 2018 Mr Melniks is no longer a shareholder nor a director of the company so we are unable to comment on his affairs.”
It declined to comment when asked the identity of the new owner.
Riccardo Tattoni is a 65-year-old Italian giving an address in Geneva. He has previously been on the boards of two dissolved UK companies called Felixstowe Developments and Can Pilot and has described himself variously as a banker and consultant.
What the regulator says
The regulator said it had revoked Silverbond’s licence because: “The Commission is not satisfied that it would have granted the operating licence to the Licensee had the new controller been a controller of the company when the application for the operating licence was made.
“In particular, given the Licensee’s failure to provide full and proper explanations with supporting evidence timeously the Commission is not satisfied as to the source of funds (SOF) used to acquire and support the Licensee at the time of the change of corporate control or to whom future profits of the Licensee would be paid.
“The Commission also identified concerns with the suitability of the new controller because of its unsatisfactory history in providing information requested as part of the Commission’s enquiries.”
Deloitte and NatWest did not comment. Melniks and the Gambling Commission did not respond to requests for comment.
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In its last accounts, dated in December last year, Silverbond said the new ownership strengthened its financial position.
The mystery over London’s Park Lane Club ownership has deepened. It has come to light that the owner’s identity has been protected by a rule that is usually used to protect those at risk of violence or intimidation. The obscurity over who the casino’s owner is, and why they have refused to reveal themselves has caused concern, as allegations of corruption have dogged the operator.
Park Lane Club is one of the most exclusive and luxurious casinos in the capital. ©Peter Spencer/Pexels
Corruption Allegations
Questions have been raised over the ownership of one of London’s most exclusive casinos, following the revocation of its license in early November. After the Gambling Commission, which regulates the UK’s gambling industry, conducted an investigation into the club’s operations, it judged that it was not satisfied that it would have granted the current owner of the casino an operating license.
Park Lane Club’s operating license was held by its parent company, Silverbond Enterprises. The regulator went into some detail about the case, citing concerns over the source of funds used to support the license, as well as a disinclination from the owner to provide important information. The extent of that lack of cooperation has come to light now, as it becomes clear that it is still not known who owns Park Lane Club.
It had been previously assumed by many that Park Lane Club was still under the control of Latvian businessman Vasilijis Melniks. Melniks was the director of Silverbond Enterprises for three years, before resigning on October 5th 2018. The businessman has in the past been accused of embezzling and laundering €54 million from Ukraine’s state-owned energy company, Naftogaz. Melniks has denied these allegations.
Melniks also served as Latvia’s finance minister, albeit for only four days. In 2018, his assets were taken by Ukrainian authorities, after he became the subject of a corruption probe. Eiroholdings Invest, which owned Silverbond Enterprises, was seized. It was at this point that the gambling regulator began its own investigation, which came to a head this year. Having associations with corruption, money laundering and embezzlement is cause enough for the Gambling Commission to review a company’s license, although what seemed like a clear-cut case has now become rather more complicated.
According to a report by the Evening Standard, a spokesperson for the casino told it that Melniks sold his stake in the casino back in 2018. That would corroborate with the millionaire’s timeline, as this is when his assets were originally frozen. The company was then sold, with Melniks no longer a shareholder or a director, according to the newspaper’s account.
Silverbond Enterprises is currently appealing the Gambling Commission’s decision to revoke its license. The casino is technically allowed to continue trading during this process, although it is closed due to the pandemic. The question on everyone’s lips is that if Melniks is not the club’s owner, then who is?
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The identity of Park Lane Club’s will have to remain a mystery for the time being, as it has been protected under Section 790ZG of the UK’s Companies Act. This means that the director’s personal information is restricted from public disclosure, as the nature of the business could put them at risk. More usually, this piece of legislation would be used to protect those who may find themselves targeted by activists and protestors.
Section 790ZG could be used to protect someone working in the defense industry or in animal testing. As such, it is unusual for this section to be used by the owner of a casino. Whether the director of Park Lane Club is facing any real risk as described in the act is questionable. Furthermore, with allegations of money laundering and corruption hanging in the air, it seems that this section could be being used to conceal activity that would jeopardize the casino’s license, or that is illegal.
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Casinos in Lockdown
Speaking to the Evening Standard, former casinos regulator Graham White described the situation as ludicrous. White questioned whether the Gambling Commission had done enough previously to check on Silverbond and why the owner of a casino would be allowed to do so anonymously. White elaborated:
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“It seems incredible that the ownership of casinos in this country can be a secret. I find it quite staggering, frankly. And we need to know fuller details about why the licence was revoked. What due diligence did the Commission do on the past owner and what on the present owner?”
Park Lane Club is situated at 22 Park Lane in London’s Mayfair district. The area is a hotspot for many of the capital’s tourists, as well as the rich and famous. The club is decked out with crystal ceilings and offers visitors a high-class experience – at a price. Annual membership to the club costs around £1000 a year. The casino offers a range of classic table games, hosted by croupiers. There is even an outdoor gaming terrace, for those who want to take in the London vista while they play.
However, the casino is currently closed due to government restrictions. All casinos in England are currently closed, as the nation is still in its second lockdown. The lockdown is due to be lifted on December 2nd, at which point a new three tier system will come into place. Regions have already been told which tier they have been put into, with mixed reactions.
After much uncertainty, betting shops have received the news that they will be allowed to reopen in all three tiers. However, casinos have not been given such positive news. They will have to remain closed in tier three areas, despite effectively implementing COVID-safe measures so far this year. Announcing the details of England’s tier system, prime minister Boris Johnson also revealed tentative plans to allow sports fans back into stadiums.