October 4, 2016
Londons venerable Ritz Club Casino had a disappointing performance in 2015 thanks to VIP gamblers getting luckier and less honorable.
In public documents filed last week, the Ritz Club reported a net loss of £12.8m in the 12 months ending Dec. 31, 2015, compared to a net profit of over £5.2m in 2014. Turnover for the year was £38.4m, down significantly from £66.9m in 2014, while the cost of sales also fell to £41.3m from £52.6m in 2014.
The company blamed the downturn on a low win percentage at its gaming tables and a muc…
Read the full article at: http://calvinayre.com/2016/10/04/casino/london-ritz-club-casino-posts-loss-vip-debts/