London's Ritz Casino suing High Rollers in Multi-Million Pound Lawsuits

The Ritz Casino has launched several multi-million pound lawsuits against high-roller clients over unpaid gambling debts. Ritz owners and billionaire twin brothers Sir David and Sir Frederick Barclay have taken 10 individuals to High Court this year. Considering that they only took two people to court over gambling debts in 2013 and ’14, that’s quite a difference.

The primary motivation behind launching multiple lawsuits now is that Ritz Casino took a £12.5 million loss in 2013, due to “significant non-recoverable gaming debts.” The same year saw the Ritz Hotel pull in a £9.6 million profit.

As the London Evening Standard reports on the lawsuits, “although full provision has been made against these debts the directors are confident they will be recovered.”

Billionaire Bharat Kalwani is the most-high-profile person involved in this story since he went on a gambling binge, only to pay for his losses with a “worthless” £5 million check in October 2013. The Evening Standard reports that Ritz was able to make an 11th-hour settlement with the Singaporean construction magnate.

Another case that went in Ritz’s favor was one involving a wealthy gambling addict named Nora Al-Daher. She tried to sue the casino for £2 million in 2012 after claiming that they should have refused to give her credit. Judge Anthony Seys Llewellyn not only threw the case out, but said that Al-Daher had “unimaginable wealth” and could easily afford to cover the gambling debt.

A Ritz Casino spokesman commented on the recent string of lawsuits by saying “Whilst we enjoy very good relationships with the vast majority of our customers, on some rare occasions it is unfortunately necessary to take legal action in order to recover outstanding debts.”

The Ritz has remained a very attractive destination for gamblers from all over, due to its unique ballroom atmosphere and old-style feeling. It’s particularly enticing to wealthy gamblers from the Middle East and Asia.

Aside from the atmosphere, another reason why Ritz Casino remains popular is because of the anonymity that they offer. “If someone is losing a large amount of money, that person wants to play in an element of privacy, we provide that,” said a Ritz manager. Of course, these people who lose large amounts of money need to pay up, which is where the basis for these lawsuits come from.