Damian Aspinall has reportedly lost his 35% stake in his family’s casino empire after he failed to repay his £6m ($7.6m) mortgage. Banking group Investec took control of this holding in Aspers, which operates casinos in London, Newcastle, Milton Keynes, and Northampton.
Aspinall is no longer a board member
The stake was once worth around £50m ($63.7m) according to a Daily Mail source who is friends with the 63-year-old. A spokesperson for the company confirmed that Aspinall is no longer a board member of Aspers UK Holdings Ltd or any of its associated companies.
Damian’s father started Aspinalls private member casino during the 1960s in Mayfair. The company was revitalized following his father’s death in 2000 in collaboration with Australia-based casino company Crown Resorts, leading to the opening of other casinos across England.