The Ritz casino in Mayfair demonstrated the volatility of London’s VIP casino sector with losses of £11.7m reported in 2017.
The loss follows profits of £8.9m in 2016. GGR dropped from £33m to £22.3m during the period although the casino’s owners, the Barclay brothers, revealed that footfall had been consistent referencing luck as being the key contributing factor.
“Efforts to encourage new Middle East and Far Eastern players remain focussed and business in 2018 is expected to be more fortuitous. Business in 2018 is expected to be more fortuitous,” the company said