London��s Ritz Casino Sues High Rollers Over Unpaid Gambling Debts
A report in the London Evening Standard last week revealed that The Ritz Club casino in Piccadilly launched a number of multi-million pound lawsuits against individuals around the world to chase unpaid gambling debts.
The casino, which is owned by the billionaire twins Sir David and Sir Frederick [Removed:293], sued 10 gamblers last year after it showed an operating loss of almost ��12.5 million, a large percentage of which was labelled as "significant non-recoverable gaming debts."
Turnover soared from ��21.5 million to near ��32 million between 2012 and 2013, but the casino still failed to turn a profit �� the Ritz hotel generated profits of ��9.6 million during the same period.
In August 2014, The Ritz Club won a case against the now ex-wife of the Omani Foreign Minister Sayyid Badr bin Hamad bin Hamood Al-Busaidi, Nora Al-Daher, who attempted to sue the casino after losing ��2 million in one evening playing Punto Banco �� she's certainly no Phil Ivey �� and then failed to honor some of the checks that she handed over that night. A judge ruled that Al-Daher had "unimaginable wealth" and had to pay the ��1 million owed to the casino.
Another high-profile case involved the Singaporean construction magnate Bharat Kalwani, who The Ritz Casino accused of paying his ��5 million bill with a check that later bounced. This case was settled in the 11th-hour.
The Ritz Club's elegant d��cor and its willingness to allow customers complete privacy while betting for huge stakes have made it a popular venue for the world's rich and famous casino-game lovers. While the minimum bet in blackjack, three-card poker, and baccarat is ��25, the maximum wagers are tailored to the customer's needs and are thought to be among the highest in London.
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