Ritz Club Casino Closes
The Ritz Club Casino has closed its doors for good after informing staff that they are now redundant on the 31st May.
One of the most iconic names in high end gambling in London, famed for its style and elegance has suffered losses over recent years as it along with many other exclusive gambling businesses fight for the dwindling VIP market.
The iGaming Post understands from sources that 200 staff whom worked at the exclusive venue have all been informed at the end of May that the club will not reopen from the COVID-19 pandemic.
The casino which was owned by the Barclay brothers as part of the Ritz Hotel has seen a bitter feud erupt by the family with the hotel at the centre with rumours that the hotel has been sold for £1.3 billion to a Saudi investor. Those rumours are still to be verified as the brothers are in a bitter court battle.
What is known is that The Ritz Club which closed as did all casinos in mid-March over the COVID-19 pandemic will never open its doors again.
The casino has been in its current form since 1977 when Mecca Sportsman and Pleasurama leased the basement of the Ritz Hotel and opened in 1978 as The Ritz Club. Since then the ownership has changed hands until in 1997 it was incorporated into the ownership of the hotel by the Barclay brothers.
However over recent years the casino has suffered from well publicised court cases of wealthy gamblers refusing to pay their gambling debts along with reporting hugs losses over recent times. Back in 2018 the company reported annual losses of nearly £12 million and in 2019 was some £11 million down.
One former member of staff told the iGaming Post: “it was such a great place to work, it was so glamorous and the management and customers were the best in London at that time. It is such a shame that those staff have lost their jobs.”
