London Clubs' wheel of misfortune
Saturday 12 June 1999
Alan Goodenough, chief executive, said the exceptional luck of "less than five people" was responsible for the pounds 15m fall in pre-tax profits reported yesterday. "I'm not going to give any details as to their identity, otherwise we'll lose their custom," said Mr Goodenough. "But they are normal, run-of-the-mill high rollers we see year in, year out. Historically, they've always been losers, but for a short amount of time they became winners."
Gamblers usually lose an average of 18 per cent of the money they bet. However, the winning streak, which lasted from the end of February into April, cut that to under 10 per cent.
London Clubs was hit hard as its business is geared towards to the glamorous end of the market - the sort of casinos where dinner-jacketed punters arrive in sports cars. The 50 St James casino is fitted with antique tables, Persian rugs and glitzy chandeliers. Its reopening party in July featured bewigged butlers and women wearing dresses reminiscent of 18th-century costume dramas.
The winning roulette games were apparently played in private rooms. "There was no whooping or wailing when they won," said Mr Goodenough.
There was no suggestion of foul play, he said, dismissing suggestions someone had found a winning system for roulette; the win percentage had since returned to its usual levels.
London Clubs, whose turnover fell by pounds 24.2m to pounds 143.7m, is seeking to buy mid-market casinos attracting more but lower-spending gamblers. Meanwhile Mr Goodenough, who becomes executive chairman after the retirement of chairman Sir Timothy Kitson next month, appealed to the Government to reverse last year's increase in gaming duty and allow the casino industry to advertise.
The final dividend was 5.25p (6.925p).
Long after his career in English football has ended, Emile Heskey's impotency in front of goal remains an object of ridicule.
- 4 Iranian blogger found guilty of insulting Prophet Mohammad on Facebook sentenced to death
- 5 Free U2 album: How the most generous giveaway in music history turned into a PR disaster
Stamford Hill council removes 'unacceptable' posters telling women which side of the road to walk down
Kim Kardashian 'nude pictures' leaked on 4chan weeks after Jennifer Lawrence 'The Fappening' scandal
Iranian blogger found guilty of insulting Prophet Mohammad on Facebook sentenced to death
Hitler’s former food taster reveals the horrors of the Wolf’s Lair
Jennifer Lawrence 'naked sex video' will be leaked next, threatens 4Chan celebrity photo hacker
Scottish independence referendum: A nation divided against itself
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Russia freezes Ukraine into submission: Kiev admits country doesn't have enough fuel for winter
Archbishop of Canterbury admits doubts about existence of God
Plebgate MP Andrew Mitchell called officer a 'little s**t', claim court documents 'exposing ex-Chief Whip's 'record of abusing police'
iJobs Money & Business
£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...
Up to £100k or £450p/d: Saxton Leigh: My client is a leading commodities tradi...
£320 - £330 per day: Ashdown Group: The Ashdown Group have been engaged by a l...
To £75,000 + Pension + Benefits + Bonus: Saxton Leigh: My client is looking f...