Supplier News
Greece – Loutraki denies bankruptcy claim
By Phil - 15 October 2013
Management at one of Greece’s leading casinos, Club Hotel Casino Loutraki have stressed it is not on the verge of going out of business, reassuring workers that it was not about to apply for bankruptcy and they their jobs were safe.
Public Relations Manager, Yiannis Vrachatis, confirmed the property was not seeking protection from its creditors, but that it has come to an agreement with them. “The consortium of the Casino of Loutraki has sent to the Court of Corinth a request to approve the agreement concerning the regulation of the debts with its creditors,” Mr. Vrachatis explained. “The adoption of this agreement by the court will ensure the continuance of the operation of the company and the employment of 1,400 workers.”
Turnover for the first eight months placed Loutraki in second place in the Greek league of top earning casinos. Revenue was down 15.2 per cent to €55.3m despite attendance improving by 11.3 per cent to reach 468,852.
