The former operator of Casino di Campione d’Italia has presented a recovery plan which could see the casino reopen this September.
Located in the Italian exclave of Campione, the property closed its doors in July 2018.
The proposal will need to receive a green light from the Bankruptcy Court before it can be implemented. Under the terms of the plan, which was originally presented back in 2018, the casino would have to pay off its debts of EUR130m by the end of 2027.
The casino would relaunch with 170 employees and employ 270 people by 2026, compared to the 500 it employed in 2018 prior to its bankruptcy. The casino would also be required to make savings on other fixed costs, such as restaurants and catering, with external suppliers being contracted up on a fixed budget to avoid cost over-runs.
“Finally hearing some news about the reopening of the casino is certainly something positive,” said Vincenzo Falanga, general secretary of the Lario branch of the Italian Union of Local Authority Workers (UIL FPL). “Unfortunately, the proposals coincide with a time when casinos and gambling halls are closed due to the pandemic.” Nevertheless, he emphasised that “the union will try to do its part”, particularly given that many of the casino’s former employees “have not managed to relocate almost three years since its closure”.