Casino group hits a losing streak

THE 175-year old Crockford's casino in London's Mayfair has seen many high rollers come and go.

Unfortunately for owner Stanley Leisure, a fair amount of its profits have gone with them. On Thursday, the betting and gaming operator is expected to announce a £5 million drop in interim pre-tax profits to about £20 million.

Much of this was lost at Crockford's to lucky gamblers.

However, Stanley Leisure's other businesses - it has 40 provincial casinos and 600 betting shops - have softened the blow. Analysts say that Crockford's suffered to the tune of £10 million, but half of that has been clawed back by growth in trading, aided by the popular fixed-odds betting terminals.

Meanwhile, nightclub operator Luminar is expected to update the City this week on its own casino intentions when it issues its Christmas trading statement.

Chief executive Stephen Thomas has talked to gaming operators in Britain and abroad about converting some of its clubs to casinos when the industry is deregulated.