Philip Green has been in the press for all sort of reasons, but did you know about his famous night on the roulette tables?
Back in 2004, one of London’s most exclusive establishments in Mayfair: Les Ambassadeur’s Casino almost came out waving the white flag and calling for the administrators after an incredible run of luck by gambling high roller and media tycoon Philip Green at the roulette table.
The retail billionaire, Sir Philip Nigel Ross Green, the British tycoon and Chairman of the Arcadia Group that encompasses Topshop, Topman, Wallis, Evans, Burton, Miss Selfridge, Dorothy Perkins, and Outfit triggered a profit warning by the casino.
If we are talking about his business empire, the defunct BHS was also part of the group and Arcadia went into administration in November 2020 following a big Coronovirus hit, but that is a whole different story. Let’s get back to roulette shall we?
Mr Green won around £2 million in one night at Les Ambassadeurs in Mayfair and a further £1 million on subsequent sessions.
He said of his run of luck: “I had a fantastic night at the tables.” he said. No kidding!
Philip Green Playing Live Roulette at Les A on his Mac Book Pro?
The retail magnate is one of a handful of high rollers who bet tens of thousands of pounds on one roulette spin. A handful of other millionaire gamblers won similar amounts to Mr Green against “the house” during the winter.
Following his fun of good fortune, the owners (who were London Clubs International (LCI), at the time) had to issue a warning that its net income would be heading south “significantly” Their operating profit fell by almost 45% that year when compared to the previous year.
Les Ambassadeurs is just off Park Lane and is well known as one of the most luxurious gaming clubs in the world. The pace is often packed with tycoons and high rollers.
The retail magnate likes to play a mixed system of even-money bets like red-black (hedging) alongside straight up bets that pay out at 35:1 if they pay out. We prefer the Even Money Switcher system personally, but this seems to work for Mr Green. Try it at bet365 Casino if you´d like to see if you can match Mr Green´s luck….
Philip & Cristina Green are ranked at #1002 on Forbes´ global rich list (the last time we looked), with an estimated fortune of $2.3 billion- so they are not short of a bob or two. That’s down from over $7 billion though. They may have a few more liabilities once the Arcadia saga has played out.
Philip dropped out of college and started his first business at the age importing clothes from Asia with a $30,000 family loan. Not a bad return!
He owns a Gulfstream G550 jet worth about £20 million (useful for shuttling backwards and forwards from Monaco) and a £32 million yacht called Lionheart which was built by Benetti Yachts and designed by Stefano Natucci.
Philip Green’s Super Yacht Lion heart
Les Ambassadeurs covered the fuel bill for one year
Safe to say, that he’s not as popular these days in the UK for his role in letting BHS collapse, which put pensions for 19,000 workers at risk.
The other side to the story is that the Greens subsequently agreed to pay £363m into the BHS pension fund.
Philip Green Quotes
“I’m in the retail business, not the circus business”