Ritz Hotel Casino reports pre-tax loss for 2017

The Ritz Hotel Casino in London has reported a pre-tax loss of £11.7m ($15.3m) for 2017.

The loss follows a pre-tax profit of £8.9m in 2016, indicating a sharp fall in performance.

However, the Ritz Hotel Casino, also referred to as the Ritz Club and owned by Sir David and Sir Frederick Barclay, reported the same level of traffic in both 2016 and 2017.

A fall in turnover from £33m to £22.3m played a key part in the results.

The Ritz Hotel Casino said: “Casino footfall during 2017 remained constant; However, the financial results have been significantly affected by a number of customer wins. Efforts to encourage new Middle East and Far Eastern players remain focused and business in 2018 is expected to be more fortuitous.”

In December 2017, reports surfaced that the Barclay brothers were looking to sell the casino for up to £200m.