Nomura International and St James Capital have bought Earls Court and Olympia for £245m from Candover, Legal & General and the Morris family. St James's Capital, which will take a controlling interest in Earls Court and Olympia, is a property investment fund set up by Anthony Lyons and David Coffer, partners in Davis Coffer Lyons the specialist leisure-based property advisory company. They plan to develop a Las Vegas-style casino operated by MGM Mirage on the west London site. MGM has promised to invest £150m, dependent on an overhaul of the UK’s gambling laws. The development will also include hotels and cinemas with an aim to create a business worth £1bn.