 Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter! |
Gaming News
Casino du Liban CEO Fighting For His Job15 September 2000LEBANON –Sept. 15, 2000—As reported by The Lebanese Daily Star: "Casino du Liban board members have renewed their calls for the removal of chairman Elie Ghorayeb, despite the apparent jump in the casino's profits this year. "Ghorayeb said that the casino made a pre-tax profit of $10 million in the first half of the year and projected a pre-tax profit of $22 million at the end of the year. These figures were unaudited. "…Some members called for an emergency meeting next week to expel Ghorayeb from office. They accuse the chairman of making major decisions without consulting the board, of picking a fight with auditors Deloitte and Touche, and of being unwilling to build a hotel next to the casino. "Legally, the board and Intra Investment Company, which owns 51 percent of the casino, have the power to remove the chairman. But one unnamed member admitted that removing Ghorayeb would be difficult, given his support among senior Lebanese politicians. "… The Finance Ministry wants the casino to pay $23 million in taxes on slot machines. Ghorayeb said earlier that he is willing to pay off the taxes on slot machines for 1997, 1998 and 1999 if the Shura Council passed a clear decision on this matter…" |