London’s Crockfords Casino shuts its doors after 195 years in operation

30/10/2023 | Categories: News | Published by: BTCGOSU | Last updated: 05/01/2024

In a significant turn of events, Crockfords Casino, an iconic establishment under the Genting gaming group, has bid adieu after a remarkable 195-year run. This closure is a poignant reflection on the struggles faced by London in attracting high-end gamblers from across the globe.

The End of an Era: Crockfords Casino Shuts Its Doors

Crockfords Casino, a name synonymous with exclusivity and prestige for nearly two centuries, has closed its doors. The reasons behind this closure are multifaceted, with the ongoing pandemic and other challenges playing a pivotal role. According to reports by the Daily Mail, the casino’s management points to the “tourist tax” as a significant factor that led to the closure.

This tax terminated Value Added Tax (VAT) reimbursements for purchases made by foreign tourists when the UK departed from the European Union in 2021. The ensuing decline in foreign tourist visits had an irrevocable impact on Crockford’s reputation as a premier destination.

The pandemic, coupled with the transitional phase of Brexit, resulted in challenging times for the casino. However, the owners have come to believe that London is no longer the magnet it once was for foreign tourists willing to lavish significant sums in the city’s casinos.

Regardless of the reasons, the curtain has fallen on Crockfords Casino, situated in London’s prestigious Mayfair district, following an illustrious 195-year run, as reported by the Daily Mail.

End of an Era

The future of this legendary £80 million Mayfair casino site now hangs in the balance, awaiting a decision by its owners. Around 100 employees of the casino face the possibility of redundancy or transfer to other casinos within the Genting group. Paul Willcock, the president of Genting Casinos UK, lamented this closure as the “end of an era.”

He emphasized, “A combination of factors has placed high-end London casinos at a competitive disadvantage compared to other global markets. This has rendered the future of Crockfords in Mayfair unsustainable.”

The Exodus of Gamblers to Other Destinations

Established in 1828 as a private members gaming club for society’s elite, Crockfords Casino subsequently migrated to the heart of Mayfair, to attract high rollers from across the globe. However, even iconic establishments encounter challenges, and Crockfords struggled to sustain its operations during the pandemic when high-end casinos like The Ritz and The Clermont were compelled to close their doors.

As reported by the Daily Mail, London has been steadily losing customers to other international gambling hubs in recent years. The Genting group’s allegations about London’s waning appeal to foreign tourists arrive on the heels of the closure of the storied Crockfords Casino, a high-roller haven with a nearly two-century legacy.

This departure prompts a contemplation of the future of London’s casino industry and its competitiveness on the global stage.