Crockford CasinoPost-2020 life stands in stark contrast to the previous world, with multiple sectors taking a hit. This, coupled with London's reduced allure for luxury-seeking visitors, has culminated in the end of an era for Britain's oldest casino. online casinos With each passing day, changes in the industry have pushed Britain's oldest casino to permanently cease operations.
The storied Crockfords Casino, a favorite among nobles and royalty, terminated its 195-year tradition this October 2023. Management reached this decision after conducting an assessment of the casino's prospects in the prior month.
This iconic Mayfair venue, part of the Genting gaming family, employs 100 staff members who now face the uncertainty of redundancy unless reassigned to other properties under the company.
The End of an Era
Paul Willcock, the figurehead of Genting Casinos UK, proclaimed that closing the £80 million Crockfords site marks the end of a significant chapter. But what circumstances led to this unfortunate outcome?
Willcock explained that a myriad of challenges has left London's upscale casinos in a precarious position compared to the world's gaming markets, rendering a sustainable path forward for Crockfords unattainable.
The business downturn post-pandemic, coupled with barriers like the ‘tourist tax,’ have been cited as reasons affluent guests are reconsidering their UK travel plans.
A Historic Casino
Founded in 1828 by William Crockford, a self-made businessman who rose from humble beginnings, the casino skyrocketed him to wealth and prestige.
Originally a posh private club at 50 St James Place, it flourished during a gambling boom in the 1800s, offering the elite a refined environment to wager.
To appeal to a global clientele, Crockfords relocated to Mayfair, drawing in high-stakes players from abroad.
But big bets bring big controversies, exemplified in 2017 when the casino prevailed in a legal spat with poker pro Phil Ivey over £7.7 million baccarat winnings, which he claimed were wrongly withheld on cheating suspicions. Ivey rejected these allegations, recovering his initial £1 million stake.
The historic venue faced additional bumps amid the pandemic, attributing much of its woes to London failing to lure big-spending tourists.
Additionally, post-Brexit 2021 measures, such as the cessation of VAT-free shopping for international visitors, added to the struggles.
More prestigious places like The Ritz and The Clermont have shuttered, signaling that the tide may have turned against London as a gambling hotspot.
High-end live casinos Significant impacts were felt across the UK, where these establishments used to contribute approximately £150 million annually in tax revenue, alongside bolstering London’s economy by £188 million with an extra £120 million coming from tourist expenditures.
Last Updated: December 7, 2023
