Tag Archives: privatisation
Spain – Three Tenerife casinos now on sale in new tender
The three casinos in Tenerife have been put on sale and will be privatised under a new public tender. As reported in the islands official bulletin on Monday (September 24), the three casinos are now on sale for a total of €24.9m. The Council headed by Carlos Alonso explained that the resources obtained after the…
Germany – Germany’s Westspiel-Casino group will be sold off
The state government of North Rhine-Westphalia has decided that it will sell off its Westspiel-Casino group, which runs four casinos in Aachen, Dortmund, Duisburg and Bad Oeynhausen and wants to open a fifth casino in Cologne. In 2016 the company’s GGR increased slightly to €80.4m in 2016 but the company still made a loss of…
Philippines – New council to oversee privatisation of PAGCOR
Philippine Finance Secretary Carlos Dominguez has confirmed that a new council will be formed to oversee the technicalities in the sale of PAGCOR-owned casinos. It will be made up from executives from the Office of the President (OP), the DOF, the Department of Justice, the Department of Budget and Management and the Governance Commission for…
Brazil – Brazilian government confirms sale of instant lottery
Brazilian President Michel Temer has announced that Lotex, the instant lottery division arm of the lottery, will be amongst the 57 public companies and airport terminals which will be privatised, with the objective of reducing the country’s fiscal deficit which amounts to nearly US$500bn. Lotex, which is currently owned by the biggest public bank in…
Spain – Sale of Tenerife casinos slammed as shameful by Councillor
A Councillor from the Podemos (We Can) Party Julio Concepción has fiercely criticised the local government for taking another step forward in the privatisation of casinos, slamming the council’s actions as ‘shameful.’ He said that the sale of the Playa de Las Americas casino in the south of Tenerife generated ‘enormous benefits’ and criticised the…
Philippines – PAGCOR to complete casino sale by September 2017
The privatisation of the casinos currently owned by PAGCOR, the Philippines Amusement and Gaming Corporation, will be completed by September next year. Chairwoman of the Philippines Senate Committee on Finance, Senator Loren Legarda, confirmed the 2017 deadline, and also that the process was already underway. She said: “They have already started the process of privatisation…
Spain – Sale of Tenerife casinos set for the end of the year
The President of the Council of Tenerife Carlos Alonso, has said that the appraisal report on the value of the three existing casinos on the island will soon be made public in order to proceed with their sale. The official said that the report would be ready at the latest by the end of this…
Italy – Casino de la Vallée could be sold
The Valle d’Aosta region is evaluating the effects of privatising Casino de la Vallée in Saint Vincent. The Casino of Saint-Vincent reported a loss of €18.5m in 2015 from total revenue of €69.2m, up about €1m compared to 2014. The casino, which opened on March 29, 1947, was incorporated as the Casino de la Vallée…
Philippines – Confirmation that PAGCOR will sell its casinos
PAGCOR Chairperson Andrea Domingo has now confirmed that the Philippines government has ruled that PAGCOR (Philippine Amusement and Gaming Corp) must sell its casinos to support the proposed P3.4tn for the 2017 national budget. Andrea Domingo confirmed: “Finance Secretary Carlos Dominguez has told us to privatize Pagcor-owned casinos. We are now preparing the template for…
