Casino du Liban expects $10M in profit in 2018: Casino president Khoury

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Casino du Liban president Roland Khoury projected the net profits for the establishment to be over $10 million for the fiscal year of 2018.

In 2017, the casino rebounded after Khoury took over with a $3 million profit after years of experiencing losses, the Daily Star reports.

The casino is majority owned by the government through the Intra Investment Company and is managed by London Clubs International, a subsidiary of Caesars Entertainment Corporation.

Casino Lebanon

As a result, the establishment pays lots of taxes on most of their games inside. Khoury said “We pay nearly $40 million in taxes on the slot machines.”

He called on tax reform in the country so that the casino will be able to better compete with casinos in Cyprus and around the world.

Despite his grievances, many analysts have noted that the expected revenue for 2018 is promising given the small size of Lebanon’s population and where a significant percentage of people do not gamble.

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