In para five, the casinos of K. Piladakis were spared the suspension of operation

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By Matina Harkoftakis

In paragraph five, the suspension of the operation of the casinos in Rio and Alexandroupoli managed by businessman Kostas Piladakis was avoided.

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As had reported in a publication, the Gaming Supervision and Control Committee (EEEP) during its meeting yesterday would consider the possibility of suspending the operation of the two casinos due to their excessive debts to the EFKA, which are estimated to now exceed the 30 million euros. However, for its part, the company presented before the Commission the protocol number of the request it has submitted for its affiliation to the platform of the extrajudicial mechanism for debt settlement, a move that offers it protection from its creditors for at least 4 months. In this context, EEEP cannot currently proceed with a temporary withdrawal of the operating license despite the significant amount of obligations that have not been fulfilled on the part of the company.

It should be noted that according to the current legislation, casino businesses are required to pay their obligations to the public and the IKA every month, otherwise the operating license will be temporarily revoked for a period of two months and if the obligations continue to be non-fulfilled then it is not excluded that there will be a definitive revocation of the license.

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The Commission’s microscope is expected to find the Corfu casino next week, also of Mr. Piladaki’s interests, whose case is characterized as easier than the other two as it shows far smaller debts and is therefore more manageable.

As for now, the interest shown by two investment schemes from Israel in acquiring the three casinos of the well-known businessman (one involves two shareholders of Brown Hotels and the other the Israelis, who manage the casino in Loutraki), the business’s exorbitant burdens and legal backlogs are holding back a deal that could breathe new life into casinos.

Source: Capital

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