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A Leicestershire entrepreneur who spent £60 million bringing one of the capital’s most famous buildings back to life has died.

Jimmy Thomas was known for his lifetime’s work within the gaming industry and most recently as president and co-founder of The Hippodrome Casino, in London. He was 88.

Mr Thomas was given the Freedom of the City of London in 2014 for restoring the West End building from a tired former nightclub to Europe’s biggest casino.

He had made his name running amusement arcades such as the Showboat chain as well as bingo halls, including Beacon Bingo, in Loughborough. He and son Simon, who ran the Hippodrome with him, sold those businesses for a reported £80 million in 2006 after realising the impact the smoking ban would have on arcades and bingo.

They saw the Hippodrome, in Leicester Square – a slightly grubby nightclub previously owned by Peter Stringfellow – as a potential gold mine, particularly with the introduction of more liberal gambling rules.

Mr Thomas turned the tired grade II-listed building into an opulent casino after acquiring it in 2007. It reopened in 2012.

When he received the Freedom of the City of London he told the Leicester Mercury: “It’s a huge honour and was one of the most memorable days of my life.

“It was fascinating to be a part of something that goes back to the historical roots of London.”