October 2nd, 2023: Are we about to witness the end of a respected casino in the United Kingdom due to poor revenues? If we check the latest news and buzz on Crockfords Casinos, then there’s a strong probability that its operations may wind down soon. Initial talks suggest the casino may close as it fails to attract high-end tourists to its traditional customers. As the ‘oldest gaming club’ in the UK, Crockfords Casino has traditionally attracted the attention and business of the royalty and aristocracy.
Acknowledging its struggles in the industry, the casino has kicked off a 30-day consultation process with its staff and other stakeholders to decide the future of the respected gaming club.
Tourist tax, pandemic blamed for casino’s woes
At least two factors are considered for the slowdown of the casino’s business. According to many observers, the gambling site suffered from the pandemic, and the ‘tourist tax’ discouraged many wealthy players from visiting the country. The casino, which the Genting Group now owns, currently employs about 100 employees, and they’re now facing possible job losses due to redundancy.
Crockfords Casino- Play area for the rich
The Crockfords Casino has a long and rich history. This gaming club was established in 1828 by William Crockford, a working-class fishmonger who would later become one of the country’s wealthiest persons. Initially, the gaming club was a private members gaming club that caters to the requirements of London’s elite and was located at 50 James Place in London. During the 1800s, the gaming club monopolized the gaming scene in England, providing players and enthusiasts a venue to play and socialize. As the business grew, the casino later moved to Mayfair and soon attracted players and high rollers worldwide.
Genting Casino admits the casino’s struggles
In a statement shared through The Daily Mail, the president of Genting Casinos UK, Paul Willcock, admitted that the business has been affected by a combination of factors that put the city of London at a disadvantaged when compared with other regulated markets. Mr. Willcock added that the decision about the company’s fate should be decided after the views and opinions of the employees have been considered.
“We highly value our employees, and we are committed to our duty of care to them,” Willcock said. He added that None of our other casinos are affected in any way by this process”, and the company will no longer comment while the consultation is ongoing.
If the consultations point to a potential closure, the gaming club will become the third premium London casino to close shop in recent years. The UK betting industry has seen the closing of Clermont and the Ritz Club, primarily due to the lack of high rollers visiting London to play and bet on games.