Published on: October 26, 2023, 03:02h.
Last updated on: October 26, 2023, 03:02h.
Crockfords, a renowned casino located in London’s upscale Mayfair district, has recently closed its doors, as reported by The Daily Mail. The historic establishment, which boasted a prestigious clientele that included aristocrats and royalty, had been under the ownership of Malaysian casino giant Genting since 2006.
This closure marks the third premium private members’ casino in London to shut down in recent years, following the Ritz Club and the Clermont. These closures can be attributed to a decline in high-roller gamblers in the British capital.
Traditionally, London’s VIP casino sector relied heavily on high rollers from the Arab Gulf states. However, their numbers have dwindled in recent times due to changes in British government policy. Specifically, the UK’s departure from the European Union led to the elimination of duty-free shopping for foreign visitors, thereby discouraging their presence in the country.
Casinos in the UK have also been negatively impacted by the ban on gambling with credit cards imposed by the UK Gambling Commission.
Genting, the owner of Crockfords, held consultations regarding the future of the casino before making the decision to close. As a result of this closure, approximately 100 employees of Crockfords are now facing possible redundancy or relocation to other casinos owned by the Genting group, according to The Mail.
Genting currently operates 34 casinos across the UK, including notable establishments like Palm Beach, Genting Casino London Chinatown, and Forty Five Kensington in London.
Controversy Surrounding ‘Oldest’ Claim
Crockford’s, founded in 1828 by William Crockford, a former fishmonger, has often claimed to be the oldest casino in the UK. However, this assertion is disputed since the original club closed in the early 1870s.
Nearly 60 years later, a bridge club with the Crockfords name emerged in the vicinity, but it had no affiliation with the original business other than its location. Over time, casino games were introduced, turning it into the modern version of Crockfords.
Phil Ivey and the Edge-Sorting Scandal
Crockfords gained significant attention in 2012 when it became embroiled in a lawsuit filed by renowned poker player Phil Ivey. The casino withheld £7.3 million that Ivey claimed to have won playing mini-baccarat at their tables. Ivey, along with his associate Cheng Yin Sun, had adopted a technique called edge-sorting to gain an advantage over the casino.
Ivey’s exceptional run at Crockfords, as well as at the Borgata in Atlantic City, where he “won” $9.6 million, became the stuff of legends. His subsequent legal battles in relation to this scandal were some of the most gripping in the history of the casino industry.
Ultimately, Ivey and Sun were unable to convince the courts that edge-sorting should be regarded as a strategic skill rather than a form of cheating.
In 2020, it was announced that a film would be made about the case, with Awkafina set to portray Cheng Yin Sun.