'End of an era' as Britain's oldest casino shuts for good after 195 years | The Sun
BRITAIN'S oldest casino has closed for the last time after a 195 years in business.
The exclusive gambling house shut its doors this week in what owners have described as the "end of an era".
The news comes after the casino, which was founded in 1828, had struggled to attract the wealthy tourists it was used to.
Back in September, bosses the Genting Group initiated a 30-day consultation with its staff as it decided the casino’s fate.
Ultimately the decision was made to close the premises, located in London's Mayfair, which is worth a whopping £80million.
The move sees 100 staff facing redundancy or being moved to other sites within the group.
READ MORE IN MONEY
CLOSING TIME
One of UK's oldest department stores to close due to rising costs
BIGGER PICTURE
'Huge blow' as cinema chain with 103 locations to close branch in weeks
Paul Willcock, president and chief operating officer of Genting Casinos UK, said: "As we have previously announced, there are a combination of factors which have put high-end London casinos at a competitive disadvantage to other global market places and this has led to an unsustainable future for Crockfords in Mayfair."
He made clear that none of the group's other casinos in the UK are affected by the closure.
The company has kept as many as possible across the wider Genting Group, he added.
Mr Willcock continued: "Whilst the Mayfair closure marks the end of an era, Crockfords will remain a Premium Lifestyle Brand with a strong global presence, operating successfully in our properties around the world.
Most read in Business
HARD TIMES
Brits still forking out for condoms despite price rise and cost of living crisis
CITY SICKER
Stock market chaos as huge foreign exchange firm suffers catastrophic crash
BACK TO WORK
Full-time worker numbers overtake hybrid staff for first time since lockdowns
PUMPIN’ FOR JOY
Boost for drivers as diesel bills are set to drop after oil prices plunged
"Crockfords remains a key asset to Genting UK and the wider Genting Group of companies internationally."
The casino was established in the 19th century by working-class fishmonger William Crockford.
When it first opened it was a private member's club in St James Place, designed for the elite and wealthy members of society.
As its popularity grew the casino moved to the pricey Mayfair area, bringing in high rollers from around the world as well.
After finding success, Crockford went on to become one of the wealthiest self-made men in England.
The casino's closure comes after a tricky period following the pandemic.
Reports suggest that the scrapping of VAT-free shopping for tourists post-Brexit could also be to blame, with fewer wealthy visitors coming to London.
Other casino's including the Ritz Club and The Clermont have also shut their doors in recent years.
Read More on The Sun
BANK BOOST
One-off payment worth £185 set for thousands – check if you're getting one
STREWTH
Soap legend in talks to join I'm A Celebrity after 28 years on show
Meanwhile, a British town has been dealt a “huge blow” as a Cineworld branch has announced it's closing.
Plus, here is the full list of 22 shops and chains closing doors before the end of the year after "apocalyptic" era for high street.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected].
You can also join our new Sun Money Facebook group to share stories and tips and engage with the consumer team and other group members.
Source: Read Full Article