Many people dream of opening their own casinos, but it's a lot harder than you think. There are many things that can go wrong and lead to bankruptcy, even if your casino was packed from day one.
In this post, we’ll look at , both small venues and large resorts. Some of these casinos went broke because they were badly managed, while others struggled in the face of economic hardship or competition from bigger, better-funded operations.
For whatever reason, some of these casinos simply failed to turn a profit, and their owners were forced to pull the plug. It’s always sad when a casino closes its doors forever, but it’s important to learn from failures as well as successes—otherwise, you might make the same mistakes yourself if you ever decide to enter the casino business.
Here are 15 famous casinos that went under, and what happened to them. We will also provide alternatives where you can play your favorite games.
1. The Dorechester, London (Now The Hippodrome Casino)
Let’s start with an example of a failed casino that was transformed into a successful establishment. The Dorchester was a high-end Mayfair casino that opened its doors in 1963. It was popular with celebrities like Frank Sinatra and Mick Jagger, who enjoyed playing baccarat and roulette in private rooms.
However, the casino started to struggle in the late 1980s, and it finally closed down in 2007. It was replaced by the , which has gone from strength to strength since then.
Best Poker Sites in the US 2023 - Top Online Poker NetworksThe Hippodrome still caters to high rollers, but it also offers a wider range of games (including slots and electronic roulette), and it’s less stuffy and elitist than its predecessor. In fact, it’s now one of the most popular in the UK, and you can play there anytime through some of the .
2. Dunes Casino, Las Vegas (Demolished)
The Dunes was a iconic hotel and casino on the Las Vegas Strip. It was famed for its topless dancers (a big deal in the 1960s!) and its clientele included Frank Sinatra, Sammy Davis Jr., and John F. Kennedy. However, following a series of bomb scares and threats, the casino was forced to close its doors in 1999 and was eventually demolished in 2000.
Today, the site is home to the , which is currently under construction.
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3. The Glass Slipper, Las Vegas (Bellagio)
The Glass Slipper was another iconic Las Vegas casino that bit the dust. It was known for its extravagant decor, which featured glass slippers suspended from the ceiling (hence the name). However, the casino struggled to attract customers, and it was eventually absorbed into the nearby Bellagio.
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4. Nugget Casino, Online (NuggetCasino.com)
We all know that running an online casino is incredibly competitive, but it seems crazy that so many internet casinos fail every year. One recent example is Nugget Casino, which closed its virtual doors in 2019 after almost two decades online.
According to a statement released by the company, the main reasons for the closure were increased competition and changing player preferences.
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5. The World Series of Poker Atlantic City (Ocean Casino)
The World Series of Poker attracted hundreds of poker pros and amateurs to Resorts Casino Hotel in Atlantic City between August 1–9, 2022. This wasn’t the first time WSOP had been held in A.C. - Caesars Casino & Blue Chip Poker Room used to host it before it got cancelled during the pandemic.
However, it’s unlikely that the event will return to Resorts anytime soon. The casino filed for Chapter 11 bankruptcy in 2015, and it was recently purchased by New York real estate developer Glenn Covey.
The former Borgata poker room manager Jake Klein is now spearheading the poker room at Ocean Casino, which is just along the Boardwalk from Resorts. Let’s hope things go better this time around.
6. Clarence House, London (Emporia Casino)
Another failed casino that has since been revived is the Emporio Casino, which was previously known as Clarence Grosvenor Casino and Clarence House Casino. It changed its name in 2019 following a major refurbishment.
Clarence House first opened its doors in 1987 and was initially quite modest in size. However, it expanded over the years and became a popular venue for poker tournaments and cash games.
Sadly, the casino entered administration (the UK version of bankruptcy) in 2012, but it was rescued and reopened a few months later. However, it closed again in March 2020 due to the COVID-19 pandemic.
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7. Cal-Neva Lodge & Casino, Nevada / California / Nevada (Closed)
Frank Sinatra, Dean Martin, and Sam Giancana jointly owned the Cal-Neva Lodge and Casino, which straddles the state lines of Nevada, California, and Nevada (yes, Nevada times three). Needless to say, this did not end well.
Giancana was a mobster who had links to the Chicago Outfit, and his involvement in the casino ultimately led to its downfall. It changed hands several times during the 1980s and 1990s and was finally sold to a Korean investment group in 2003.
The group went bankrupt in 2004, and the casino was shuttered. It briefly reopened in 2013 but was forced to shut down once again due to health and safety concerns. As of 2023, the Cal-Neva remains closed.
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8. Trump Taj Mahal, Atlantic City (Closed)
Donald Trump is a serial casino owner, but not all of his ventures have been successful. Case in point: the Trump Taj Mahal, which opened its gaudy doors in 1990.
Trump touted it as “the eighth wonder of the world” and borrowed huge sums of money to finance the project. However, the Taj Mahal racked up enormous debts, and in 1995, Trump was forced to relinquish his stake in the casino.
The Taj changed hands several times before finally closing its doors in 2016. It was refurbished and reopened the following year as the Hard Rock Hotel and Casino, but that closed in 2021 due to the pandemic.
As of 2023, the site is being converted into an luxury resort called the AC Ocean Walk. Until that opens, check out our list of .
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9. Castel Magny, France (Crowne Plaza Magny-Les-Combes)
Castel Magny was a casino and hotel complex built inside a medieval castle near Paris. It was opened in 1996 by Francis Cambau, a property developer who hoped to attract wealthy gamblers from the city.
Unfortunately, the casino struggled to make money, and it was hit hard by changes to French gambling laws in 2010. These limited casinos to offering free drinks and snacks to players, which seriously dented Castel Magny’s profits.
The casino finally closed its doors in 2014, and the site is now operated by the Crowne Plaza hotel chain.
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10. The Grand Casino Brussels (Confidentail Casino)
Belgium has long been a hub for European gamblers, thanks to its liberal gambling laws. However, the Grand Casino Brussels (formerly known as Holllywood), struggled to stay afloat in recent years despite being situated in a historic building that was originally designed by architect Victor Horta.
The Grand Casino eventually went bust in 2019, and most of its 250 staff were made redundant. A new company called Confidentiel took over the premises and reopened it as a members-only casino. However, it closed again in October 2020 due to the COVID-19 pandemic.
Hopefully, it will rise from the dead once again. In the meantime, check out our list of .
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11. The River Palms Casino Resort, Nevada (Vegas Club Casino)
Las Vegas may be the gambling capital of the world, but other towns in Nevada have tried to cash in on its success. One such town is Laughlin, which is located about 90 miles south of Sin City.
The River Palms Casino Resort closed its doors in 2020, blaming a sharp decline in visitors due to the pandemic. However, according to reports, the casino had been struggling for years prior to that.
The site is now being transformed into the Vegas Club Casino, which is expected to open in the summer of 2023. We’ll bring you more details when they’re announced.
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12. The Queen Mary, Long Beach (Final Voyage Casino)
Some casino owners really know how to throw away money. Take Cunardi Line, for example. Back in the 1970s, the shipping firm converted one of its ocean liners, the Queen Mary, into a floating hotel and casino.
It cost millions to fit out the ship’s cabins and install gambling tables and slot machines, and Cunardi Line even offered free cruises to entice people onto the boat. Alas, the Final Voyage Casino blowed a fortune on comped trips and failed to make a profit.
Cunardi Line eventually gave up and sold the business to Bally Technologies, which turned a profit by taking a more traditional approach to casino management. The Queen Mary is still moored in Long Beach harbor and is now a designated historic landmark.
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13. Crockfords Casino, London (Reopens as Ho Heming)
Crockfords was one of the oldest and most prestigious casinos in London, dating back to the early 1800s. It changed ownership numerous times over the years but remained one of the top destinations for high stakes poker and gambling.
Best Online Casinos in Pennsylvania for 2023However, things went pear-shaped in 2012 when American businessman Ben Blasczak won more than $14 million at the baccarat tables over a nine-day period. Initially, Crockfords claimed that Blasczak had broken the casino’s terms and conditions by employing a team of professional players and showing inexperienced dealers how to play the game.
Following a lengthy legal battle, the Casino Advisory Panel ruled in Blasczak’s favor. Unfortunately, this proved to be the final nail in Crockfords’ coffin. The casino stopped accepting bets in December 2018 and was bought by a Macau-based company called Nikki Investments Ltd. It will be reopened under the name Ho Heming.
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14. The Atlantis Casino Resort, Nevada (Closed)
The Atlantis Casino Resort was another failing attempt to cash in on Las Vegas’ success. It was opened in 1972 and struggled to compete with the Strip’s glitzy casinos, so it focused on offering cheap rooms and meals to budget-conscious gamblers.
best online slots real moneyThis seemed to work for a while, but the Atlantis Casino eventually succumbed to its rivals and closed its doors in 2003. The site has been left empty ever since.
According to reports, a company called South Bay Utility Improvement Company wants to build a water treatment plant on the Atlantis site. We’ll keep you posted.
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15. St. George Resort and Casino, Utah (Sunbow Resort)
Utah is one of America’s poorest states, and its citizens have long hankered after the glittering lights of Las Vegas. Several casinos have attempted to open in Utah over the years, but none have fared particularly well.
Perhaps the most notable failure was the St. George Resort and Casino (previously known as Red Lion Hotel and Conference Center, Claridge House, and Americas Best Value Inn). The casino offered “play money” and donated prizes worth up to $10 to good causes in order to get around strict state gambling laws.
Casinos Owned by Caesars Entertainment You Need to Know - Catfish Billy, etc.Unfortunately, the St. George Casino wasn’t a financial success, and it finally shut its doors in 2019. The building now operates as the Sunbow Resort.
Until they come good, stick with our favorite .
All these casinos mentioned above have either filed for bankruptcy or been liquidated, so it’s safe to say that they’re not exactly flourishing right now. However, some could be resurrected in the future, much like the Dunes, Nugget, and Dunes.
As we discussed earlier in this piece, other establishments, such as the Trump Taj Mahal, have been renovated and relaunched under new names, although this does take time. So, which casino will be next to bite the dust, and how long until it’s revitalized? Only time will tell.
In the meantime, there are plenty of thriving casinos across the United States, Canada, Europe, and beyond. If you can’t visit one in person, you can play hundreds of fair, regulated online – and in many cases, you can double the value of your bankroll by claiming a welcome bonus. What are you waiting for? Get stuck in!
Footnotes:
- provided details of the failed Grand Casino Brussels.
- provided details of the failed Castel Magny.
- provided details of the failed Glass Slipper.
- provided details of the failed Clarence House Casino.
- provided details of the failed Nugget Casino.
- provided details of the Trump Taj Mahal.
- provided details of the Queen Mary casino.
J.W. Paine is one of the more diverse members of the GamblingSites.com team. He's an accomplished writer and editor who's worked alongside such companies as the Oxford Press and National Geographic. When he's not writing about gambling, you'll find him playing ultimate frisbee with his dog or exploring the country in an RV.
