Financial difficulties cause trading suspension

Casino Red closes

At the end of September the newly opened Casino Red in Huddersfield claimed to be the most technologically advanced casino in the world. The £5 million conversion of a landmark building in the town included gaming tables and machines, sports bar and poker room as well as the Scarlet Restaurant and Ruby Lounge Bar. Patrons have now been informed that unfortunately trading has been suspended and staff were told on Friday that the casino operators were in financial difficulties.

The search is now on for a new investor – if one is not found in the next 30 days then as many as 100 staff would lose their jobs just eight weeks after the red carpet launch of the casino venture. A notice on the closed doors of the casino reads: Due to unforeseen circumstances, Casino Red is temporarily closed for business. Many will be hoping that the closure does prove to be temporary – staff will only be paid till 23 November.

Local residents are amazed that after so much money was spent on refurbishing the Grade II listed former Princess Cinema and converting it to a luxury casino things have so quickly gone wrong. It is believed that banks withdrew some of the company’s funding in the present financial crisis, but that sister company casinored.com, an online gambling firm, is not affected and will continue to sponsor local football team Huddersfield Town for the time being at least. (E-11.24.08)

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