CASINO

Greek casino closes; Ohio casino to punish neighbouring states; Maryland casino extends invite to press

TAGs: greece, Maryland, Maryland Live!, Ohio, parnitha, West Virginia

parnitha casinoGreece’s economic crisis has affected the gaming industry after one of the country’s casinos closed due to a strike. Bloomberg are reporting the Parnitha Casino suspended operations on May 25 when 1,150 workers decided to go on strike. The work stoppage happened due to staff wanting a new collective labor agreement ahead of the current one expiring on June 6. The venue is part owned by Greek builder Ellaktor with the other half owned by the debt riddled state itself. It comes after the government, following poor performance in the first quarter, delayed the sale of OPAP.

Ohio’s neighboring states are bracing themselves for a fall when the state’s four casinos are fully open. Casinos in Indiana and Michigan, as well as racetracks in West Virginia, will be affected as casino patrons looks set to desert their venues in favor of “couch to slot time” according to gaming industry analyst Jake Miklojcik. Ohio is hoping to reap up to $600 million in tax from the new casinos with Indiana estimating that it will lose $100 million the first year after the four casinos have opened. Detroit is likely to suffer with three of the sites just 60 miles from the city meaning that up to $25 million will be lost this year alone according to gaming analysts. West Virginia will lose 20 to 40 percent in sales at their racetracks despite investing sums of money to improve facilities.

Maryland’s biggest casino is opening its doors this week to give the media a sneak peak of what punters can expect. Maryland Live! opens its doors on June 6 but the media will get a look around inside first on Tuesday. The venue cost $500 million to build and is the state’s third casino. It will have 4,750 slot machines and be the home to excellent entertainment.

Comments

views and opinions expressed are those of the author and do not necessarily reflect those of CalvinAyre.com