Casino in the red, hotel in the black
The Ritz Casino in London’s Piccadilly section is taking some of its “best” customers to court.
According to the London Evening Standard, in 2014 the club took legal action against 10 high rollers from around the world, trying to claim £12.5 million (US$18.4 million) in unpaid gambling debts. The Ritz is owned by billionaire twins Sir David and Sir Frederick Barclay.
The High Court action came after the casino revealed it had an operating loss of almost £12.5 million in 2013 as a result of “significant non-recoverable gaming debts.” The Ritz hotel made a £9.6 million profit at the same time, the Standard reported.
The casino, located in the old ballroom of the hotel, recently did battle with high-profile deadbeats including billionaire Bharat Kalwani, who allegedly paid for an October 2013 stay with a £5 million check that bounced. The Singaporean real estate magnate settled with the Ritz last year.
The casino also won its fight with billionaire Nora Al-Daher, who tried to sue the resort after she lost £2 million in April 2012.
“Whilst we enjoy very good relationships with the vast majority of our customers, on some rare occasions it is unfortunately necessary to take legal action in order to recover outstanding debts,” said a Ritz Casino spokesman.
The Ritz has a large clientele from the Middle East, China and elsewhere in Asia.
