New gambling laws have forced a casino club in Dublin to close with the loss of almost 80 jobs, the majority full-time. Fitzwilliam Card Club, a private members’ casino close to Merrion Square in central Dublin, shuttered December 16.
The business blamed the Gaming and Lotteries Amendment Act 2019 for its decision, saying parts of the law effectively barred it from operating, according to the Irish Times.
Lawyers said the act requires a gaming permit. However, the law only allows the state to issue permits where the chances of all the players, including the banker, are equal. This means that anyone seeking a permit has to provide gaming for free. The odds offered on games such as roulette and blackjack include a margin called the “house edge” which favors casinos.
The edge, normally around 2 to 3 percent, provides the business with its turnover, but it means that the odds are skewed against the players. Thus not everyone has an equal chance of winning.
A spokesman said complaints fell on deaf ears. President Michael D Higgins is expected to sign the Gaming and Lotteries Act into law this week, which makes it a criminal offense to operate without a permit or a license. Fitzwilliam Card Club offered roulette, blackjack and other casino games to members, who had to verify they were over 18 before joining. It was also a venue for poker tournaments.
Its parent company, The Golden Horseshoe Ltd, lost €269,000 (U.S$299,208) last year and had net assets of €1.3 million on December 31, 2018. The club said it will fulfill all obligations to workers, and pledged to members that it will honor any deposits or chips that they hold.
