It was probably the most exclusive basement in London. Tucked underneath the iconic Ritz Hotel in Piccadilly, the Ritz Club Casino wasn't just a place to lose money; it was a relic of a time when gambling was about velvet, silence, and knowing the right people. Then, in 2020, it just stopped. No fanfare. No massive "going out of business" sale. Just a quiet exit that left a massive hole in the city's high-end gaming scene.
Honestly, the closure caught a lot of people off guard, but if you look at the numbers, the writing had been on the wall for years. The Ritz Club wasn't like the bright, loud casinos you see in Vegas or even the newer spots in Leicester Square. It was a private members' club. You couldn't just wander in off the street in shorts and flip-flops. You needed a membership, a jacket, and, frankly, a very healthy bank account.
The Identity of the Ritz Club Casino
The club first opened its doors back in 1978. It took over the space that used to be the Ritz’s ballroom and grill room. Because it was located in the basement of one of the world’s most famous hotels, people often assume the hotel owned the casino. It didn't. For most of its life, it was owned by the Barclay family—the same billionaires who owned the Telegraph newspaper.
What made the Ritz Club Casino different was the atmosphere. It felt like a 19th-century French salon. There were hand-painted ceilings, heavy gold leafing, and massive chandeliers that looked like they belonged in Versailles. It was small. Intimate. If you were playing baccarat there, you might be sitting ten feet away from a Hollywood A-lister or a Middle Eastern prince. It was that kind of place.
The gaming floor itself was surprisingly compact compared to modern "super casinos." It focused on the classics: American Roulette, Blackjack, Punto Banco, and Three Card Poker. There weren't rows of flashing slot machines or digital terminals everywhere. It was a place for "high rollers," people who think a £10,000 bet is a casual Tuesday afternoon.
Why Did Such a Famous Place Fail?
You'd think a place with that much prestige would be bulletproof. It wasn't. The Ritz Club Casino ran into a perfect storm of bad luck and changing regulations.
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First, let's talk about the "Whales." In the world of high-end gambling, a "Whale" is a player who bets millions. The Ritz Club relied on a very small group of these ultra-wealthy individuals. If one person had a lucky night, it could literally wipe out the casino's profits for the entire quarter. In 2016, the casino actually reported a massive loss because a few high-stakes players won big. It's a risky business model when your success depends on ten people's luck.
Then there’s the "Punto Banco" problem. The club was heavily reliant on this specific game, which is basically a version of Baccarat favored by international players. When international travel slowed down—and when the UK government tightened up on "junkets" (organized trips for wealthy gamblers)—the foot traffic at the Ritz plummeted.
Money laundering regulations also got a lot stricter. The UK Gambling Commission started cracking down hard on where players got their money. For a club that thrived on discretion and "no questions asked" service for the global elite, these new rules were a nightmare. You couldn't just walk in with a suitcase of cash anymore. The friction of proving your wealth made the experience less "luxurious" and more "bureaucratic."
The 2020 Shutdown and the Aftermath
When the pandemic hit in March 2020, every casino in the UK closed. But while the Hippodrome and the Empire reopened when the lockdowns lifted, the Ritz Club Casino stayed dark. In June 2020, the management confirmed the closure was permanent.
They laid off over 200 staff members. It was a huge blow to the London hospitality industry. The owners basically decided that the "high-end" model was no longer sustainable in a world where rich people were gambling online or heading to places like Macau and Singapore instead of London.
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- The Barclay family sold the Ritz Hotel itself to a Qatari investor around the same time.
- The casino lease was a separate entity, and the new owners of the hotel had different visions for the space.
- The "private member" model was struggling across the board in Mayfair.
What Most People Get Wrong About High-Stakes Gambling
There is a myth that these places are printing money. They aren't. Operating a casino in London is incredibly expensive. You have the rent in one of the world's priciest postcodes, the cost of specialized security, and the tax. Oh, the tax. The UK's "Gaming Duty" is a progressive tax that can go as high as 50% on gross gaming yield. When you factor in the overhead, a few lucky nights for a billionaire can put the house in the red very quickly.
People also think the Ritz Club Casino was just for old men in tuxedos. Toward the end, they were desperately trying to modernize. They tried to bring in younger "nouveau riche" crowds, but the stiff atmosphere often pushed those players toward more modern spots like the Les Ambassadeurs or the Curzon Mayfair. The Ritz was too traditional for its own good.
Is It Still Possible to Visit?
No. You can't gamble there. The physical space still exists beneath the hotel, but the "Club" as a legal gaming entity is gone. If you go to the Ritz today, you’re going for afternoon tea or a stay in a luxury suite, not for a round of roulette.
The license for the casino was essentially surrendered. In London, casino licenses are tied to specific geographic areas, and getting a new one is nearly impossible. When a place like the Ritz closes, that "spot" in the market usually disappears for good, or it gets swallowed up by a larger corporation.
Where Do the High Rollers Go Now?
If you were a regular at the Ritz, you probably moved your business to one of the few remaining "boutique" casinos in Mayfair.
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- Les Ambassadeurs (Les A): Probably the closest thing to the Ritz in terms of exclusivity. It's located in Hamilton Place and has a very strict membership policy.
- Crown London Aspinalls: Another heavy hitter in the private gaming sector. It’s smaller but very focused on the international elite.
- The Colony Club: A bit more modern, located off Park Lane. It has a great restaurant but still maintains that "members only" vibe.
- The Hippodrome: This is the opposite of the Ritz. It's huge, it’s in the heart of the West End, and it’s open to everyone. Interestingly, many former Ritz players now go there for the "Lola’s" underground casino floor, which tries to mimic a bit of that speakeasy feel.
The Real Legacy of the Ritz Club Casino
The Ritz wasn't just a casino; it was a symbol of "Old London." Its closure marked the end of an era where a handshake and a membership card were more important than a digital player tracking profile. It represented a time when the casino was an extension of the hotel’s glamour, rather than a standalone profit center.
The industry has moved on. Today’s big spenders want high-tech private rooms, smoking terraces (which are surprisingly hard to find in London casinos), and 24/7 access to global markets on their phones while they sit at the table. The Ritz, with its 1970s-style intimacy, just couldn't keep up with the demands of the 2020s gambler.
Practical Advice for Visiting London Casinos Today
If you're looking for that "Ritz feeling" in the current landscape, you need to adjust your expectations. London’s gaming scene is now split into two very different worlds.
If you want the luxury experience, you have to apply for membership at the Mayfair clubs weeks in advance. Don't just show up. They will vet you. They might ask for bank statements or proof of ID before you even get through the front door.
If you want a casual night out, head to the West End. The Hippodrome or the Empire are your best bets. They are free to enter, they don't have a strict dress code (though "smart casual" is usually the baseline), and they have a much wider variety of games.
Next Steps for the Aspiring High Roller:
- Check Membership Requirements: If you're eyeing a place like Les Ambassadeurs, look at their "Sovereign" or membership tiers online. Many now require a referral from an existing member.
- Understand "Proof of Wealth": Thanks to UK laws (which have only gotten stricter since the Ritz closed), be prepared to explain where your gambling funds come from if you plan on buying in for more than a few thousand pounds.
- Explore the "Old School" Alternatives: Places like Park Lane Club or Maxims in Kensington still offer a quieter, more "Ritz-like" experience than the big commercial casinos in the city center.
- Dress the Part: Even if a casino says "no dress code," if you're in Mayfair, wear a jacket. It’s not just about the rules; it’s about the service you’ll get.
The Ritz Club Casino is a ghost now, a piece of London’s history that lives on in stories of massive wins and even bigger losses. It serves as a reminder that in the world of gambling, even the most prestigious house doesn't always win. The market changes, the players move on, and eventually, even the gold leaf starts to peel.