|The Ritz Club, the gambling arm of London’s most famous hotel, has announced that it has closed its online gaming site following the recent spate of industry arrests in Europe and the US.|
A spokeswoman for the London based company confirmed that the site had been taken down on Friday and that all links from the club’s main website had also been erased.
'In light of the current confusion and inconsistency in online gaming legislation worldwide, the owners of The Ritz Club London Online have, regretfully, decided to close the site to new customers with immediate effect,' she said.
UK gaming stocks have lost a combined £2.4 billion in value since the end of June as the industry continues to lose executives. On Monday, World Gaming announced the resignations of its chairman and a prominent director.
In other news, online sports information and gaming firm ukbetting has announced that it has acquired The Ritz Club Online for an undisclosed sum.
The company said in a statement that under its ownership, the Ritz Club online operation would have no connection with the land-based casino, The Ritz Club, which operates from The Ritz Hotel.