Exclusive, private London casino warns of ability to stay afloat amid concerns at parent Crown Resorts

Exclusive, private London casino warns of ability to stay afloat amid concerns at parent Crown Resorts

Article brief provided by Evening Standard
  • Daniel O'Boyle, Evening Standard
April 11, 2024 8:19 PM
  • Daniel O'Boyle, Evening Standard

Mayfair’s Crown London Aspinalls casino has warned that there is “materially uncertainty” over its ability to keep trading, as its Australian parent company faces questions over whether it should keep some of its gambling licenses.

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Accounts today with the Company’s House show the Mayfair club cut its losses by two thirds to £2.0 million [$2.5 million] in the year to 30 June, 2023, as revenue grew to £12.2 million [$15.3 million]. It said it was boosted by the easing of travel restrictions, with many of its customers coming from abroad.

But the business warned on its future ability to stay afloat, as its ability to do so depends on Australian parent Crown Resorts, which would need to inject funds to cover liabilities for the loss-making London club.