Rank shuts the doors to its Grosvenor Casino in Swansea

Operating costs had increased by 11 per cent in the last three years with profitability down by 107 per cent in the last decade

British operator Rank has shut its Grosvenor Casino in Swansea, with the operator blaming ‘significant and sustained financial challenges’ for the closure.

The venue stopped trading on August 30, having generated an operating loss of £73,000 during the financial year ending June 28 and with revenue £635,000 below budget.

Rank said operating costs had increased by 11 per cent in the last three years, and that profitability had declined by 107 per cent in the last ten years.

Rank said: “After a thorough consultation process, we have made the difficult decision to close Grosvenor Casino Swansea. This is not a decision that we have taken lightly, but we need to remain focused on the longer-term health of the business. We sincerely thank our colleagues for their professionalism, dedication and contribution to Grosvenor Casinos over the years, especially during this difficult period.”

One of the company’s casinos in Reading is also under threat of closure.