The Sefton Group has announced the Best Western Palace Hotel and Casino will be moving premises.
Auldyn Properties, the group's biggest shareholder has bought the Middlemarch site at the junction of Lord Street and Walpole Avenue from the government.
The Sefton says proposed plans for the new site include a new casino complex and multi-storey car park.
It says the casino will move first, with the hotel to follow later.
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