Big wins push casino operator into the red

The roulette wheel spun viciously against casino operator London Clubs International after some big wins at its Les Ambassadeurs casino in Mayfair, London forced it to issue a profit warning yesterday.

The casino operator said it had experienced a sustained losing streak in December and January at its main London club, which accounts for two-thirds of its profits.

This, it said, would lead to the company barely breaking even in the second half of this year after a group of jet set millionaire gamblers, who were believed to be playing roulette, took the club for a song.

The company, which own 11 casinos, blamed the big wins and disruption at two of its other London city casinos for the poor results, which will see its earnings for the year fall from the £27m profit it made last year.

However, it was still expecting group operating profits for the second half of the year to equal the £11.1m it made at the interim stage, according to its pre-close statement released yesterday (5 April).

"Gamblers do win occasionally," said a spokesman for the company. "But it means the winners will probably come back."

Company shares fell by about by 4.6% to 103p yesterday.

By Victoria Heath

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