A selection of engagements from nearly four decades of advisory work across integrated resort development, market entry, due diligence, and regulatory strategy. Every engagement listed is one in which Andrew Tottenham played a lead advisory or project management role.
Las Vegas Sands had identified Spain as a priority European development market. The proposed development — a first-phase €6 billion multi-resort complex — required comprehensive pre-development work across a highly complex legal, political, and operational landscape.
Role & ScopeAndrew Tottenham served as Lead Consultant and In-Country Project Lead, responsible for the full pre-development programme. He led negotiations with the Spanish National, Regional, and Municipal governments at Minister level, securing a comprehensive package of fiscal, legislative, and regulatory measures enabling the development. He identified, contracted, and managed all external consultants and advisers — including architects, master planners, lawyers, financial advisers, and government relations specialists — and managed the internal cross-functional team across legal, finance, design, brand, marketing, and operations. He conducted site analysis across multiple locations, led land acquisition negotiations, and oversaw all internal and external feasibility research.
The proposed development site was agreed by the operator's board. Agreement was reached with all levels of government on the full package of legislative and regulatory measures required for the project's financial and operational viability. The pre-development programme was completed on time and within budget.
Integrated Resort Development — from concept to the point at which all governmental, legislative, and regulatory approvals are secured.
View Service →Caesars Entertainment sought to establish a significant footprint in the European integrated resort market through a combination of acquisition and greenfield development in Spain.
Role & ScopeAndrew Tottenham led the UK-based team for the operator's acquisition of London Clubs International plc — a transaction valued at US$570 million. He subsequently negotiated the joint venture, development and operating agreements for a €640 million integrated resort project in Spain, securing all necessary legislative and regulatory changes with the regional government, obtaining €16 million in government subsidies, and achieving all required project approvals and permits. He also negotiated development and management agreements for resort projects in Slovenia and Central Europe.
The acquisition completed successfully. All legislative, regulatory, and permitting requirements for the Spanish development were secured, including €16 million in government subsidies. Development agreements were executed across multiple jurisdictions.
Integrated Resort Development — government relations, legislative change, and regulatory approval across multiple jurisdictions.
View Service →MGM Resorts International commissioned a comprehensive gaming advisory engagement to support a proposed integrated resort development in the Middle East — a project valued at approximately US$5 billion and commensurate in scale with the region's ambitions in tourism and hospitality.
Role & ScopeAndrew Tottenham served as Lead Gaming Consultant. He was responsible for creating the development strategy and plan and for managing a large cross-functional advisory team comprising architects, master planners, interior designers, lawyers, accountants, financial analysts, hotel operators, casino operators, food and beverage specialists, and other internal and external consultants. He provided strategic direction across all phases of the pre-development programme.
A comprehensive development strategy and plan was delivered, providing the basis for the project's advancement to the next stage of the development programme.
Integrated Resort Development — development strategy, cross-functional team management, and pre-development programme oversight.
View Service →Japan's integrated resort legislation created one of the most competitive and closely watched casino licence processes in gaming history. Groupe Lucien Barrière sought a partner with the project management capability and Asian market knowledge to lead its in-country bid.
Role & ScopeAndrew Tottenham served as Project Manager, with responsibility for building and leading the multi-national project team, contracting and managing advisers, consultants, and suppliers of multiple nationalities, and overseeing the financial model and financing arrangements. He led direct engagement with the Prefectural Government at Governor level, and served as the primary liaison between the project team and key stakeholders within the client organisation.
A fully developed bid was prepared and submitted. The project team was operational across multiple Japanese prefectures, with direct engagement secured at Prefectural Governor level.
Integrated Resort Development — project management of gaming licence bid processes, government engagement, and multi-national team coordination.
View Service →Alchemy Partners was evaluating the acquisition of a significant European casino group — Groupe Joa — operating across multiple jurisdictions with an active online gaming business, representing a material investment commitment.
Role & ScopeTottenham & Co was engaged to conduct buy-side gaming due diligence. The engagement involved a detailed review of management's strategy, business plan, and financial projections; identification of risks and red flags within the business; assessment of operational performance relative to management's stated targets; identification of value creation opportunities not incorporated into management's projections; and assessment of management capability and the depth of the senior team. Andrew Tottenham provided ongoing advisory support throughout the investment committee process.
The investor proceeded with the acquisition. Tottenham & Co provided continued advisory support post-acquisition. The business was subsequently sold at a substantial gain to a consortium of international buyers including Blackstone and Kings Park Capital.
Due Diligence & Investment Advisory — buy-side and sell-side operational due diligence for gaming assets, with ongoing investment committee and post-acquisition support.
View Service →The Hungarian government sought specialist expertise to support the development of a modern gambling regulatory framework and the design and implementation of a competitive licence tender for casino operations.
Role & ScopeAndrew Tottenham advised the Ministry of Finance on the development of gaming legislation and regulations appropriate to the Hungarian market. He also advised the Hungarian State Lottery company on the market for different types of gaming products. He designed and managed the implementation of a competitive tender process for eight casino licences, drawing on international best practice from comparable jurisdictions.
A gaming regulatory framework was developed and enacted. The eight-licence casino tender was designed, launched, and successfully completed.
Regulatory & Government Advisory — gaming legislation design, licence tender management, and international best practice analysis for government bodies.
View Service →A European online betting company with established operations in regulated European markets sought strategic guidance on entering the rapidly growing and evolving US online sports betting and gaming market, where a patchwork of state-by-state legalisation was creating significant but highly complex opportunity.
Role & ScopeTottenham & Co advised on a comprehensive state-by-state market entry strategy. The work addressed the regulatory infrastructure in each target state, the size and characteristics of the addressable market, competitive positioning relative to established US and European entrants, likely future legalisation timelines across further states, and the optimal sequencing of market entry. Particular attention was given to the regulatory requirements for market access and the commercial considerations governing partnership and licensing structures.
A detailed market entry strategy was delivered, providing the client with a prioritised roadmap for US market entry with clear regulatory, commercial, and competitive analysis for each target state.
Market Surveys, Feasibility Studies & Market Entry — state-by-state and jurisdiction-by-jurisdiction market analysis, competitive assessment, and entry strategy.
View Service →The UK arm of a major US debt provider was evaluating the provision of debt financing to a significant European casino group with operations across multiple jurisdictions and an active online gaming business, representing a material credit commitment.
Role & ScopeTottenham & Co was engaged to conduct gaming due diligence in support of the debt evaluation. The engagement involved a detailed review of management's strategy, business plan, and financial projections; identification of risks and red flags within the business; assessment of operational performance relative to management's stated targets; evaluation of the regulatory frameworks across each operating jurisdiction and the stability thereof; and assessment of management capability and the depth of the senior team. Andrew Tottenham provided ongoing advisory support throughout the investment committee process.
The investor proceeded with the debt provision. Tottenham & Co provided continued advisory support post-close.
Due Diligence & Investment Advisory — gaming-specific operational due diligence for debt providers and equity investors across European and international gaming assets.
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