Casino du Liban Looking For Online Gambling Supplier

A recent article in Lebanon points to the possibility that the Casino Du Liban may very well be up for sale soon. The casino is famed for its celebrity and political visits over the decades which sits just 20km from Beirut overlooking the Mediterranean and has been called the “Monte Carlo of the Middle East.”

However with the closure globally of casinos and the limited access now for customers following the reopening of gambling venues, some political figures in Lebanon are considering the potential to sell their investment while value still holds for Casino Du Liban.

Since the outbreak of COVID-19 many countries have been struggling with their economy but Lebanon has been hit very hard with the currency devaluing by some 80%.

The casino runs with a 50% cut for the government coming straight of the top of all revenues generated, before any expenses, salary and profit are called.

52% of Casino Du Liban is owned by the government through a joint-stock company and the remainder of shares owned by a mixture Abela Tourism and Development Company along with some un-named private investors.

At the height of the business in 2011 Casino Du Liban generated $282 million in revenues, in 2018 that had fallen to $194 million, a mixture of poor management and alleged corruption has blighted the casino over recent times and is now only returning to some form of normality, but the pandemic has once again put the question of the government selling this iconic casino while many politicians believes still has value.

But the current management say that they are turning things around and would be a huge mistake in selling a venture that when the pandemic is over attracts hordes of tourists and gamblers from all over the region.

Also Casino Du Liban is tendering interest to licensed online gambling suppliers for a venture to operate an online gambling presence on their website (click here for more information).

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