The Ritz Hotel Casino that is owned by the Barclay brothers reported a loss of £11.7 million in 2017. It comes after a strong performance that was observed during the previous year, in which the company was able to generate a pre-tax profit amounting to £8.9 million.
The Ritz Hotel Casino is owned by David and Frederick Barclay. They are also the owners of the Daily Telegraph. The firm is based in St James’s and it has already been visited by various actors including Johnny Depp and Roger Moore.
The revenues of the company dropped from £33 million to £22.3 million during the previous year.
The company accounts said that the footfall of the casino had continued to be constant, however, it said that the financial results of the company had been greatly affected by a number of customer wins.
It stated: “Efforts to encourage new Middle East and Far Eastern players remain focused and business in 2018 is expected to be more fortuitous.”
Aidan, the son of Sir David, stated: “Business in 2018 is expected to be more fortuitous,” it said in accounts posted at Companies House. Aidan also sits on the board of the company.
The firm did not declare dividends in 2017 or the year before.