Reading - Grosvenor Casino at risk of closure after losses
Grosvenor Casino Reading Central faces potential closure due to significant and sustained financial losses.Summary
Grosvenor Casino Reading Central is facing potential permanent closure following a consultation process initiated by its owner, Rank Group. The venue has reported a £500,000 operating loss in the last financial year and has accumulated a total loss of £2.3 million over the past six years.
Financial reviews indicate that revenue at the Queens Street site is 19 per cent below budget, while operating costs have risen. The company stated that continued operation may no longer be commercially sustainable. The proposal has triggered a period of collective consultation to explore ways to mitigate the impact on staff and avoid redundancies.
A spokeswoman for Grosvenor Casinos confirmed that the review is part of regular business practice to ensure long-term sustainability and to focus resources on areas with stronger growth potential.
(Source：Reading Chronicle)