Canadian pharmaceutical firm Easton Pharmaceuticals Inc. announced Monday that it has been shortlisted to acquire a bet or take part in the purchase of Greece’s Club Hotel Casino Loutraki hotel.
The statement arrived after the pharmaceutical firm revealed earlier this year that it has lodged interest within an undisclosed casino hotel in Greece.
Loutraki is one of nine functional casino complexes in the southern European nation. It features 255 resort rooms and 20 suites, a health spa and health, convention sites, and a casino with 1,000 slot machines and 87 gaming tables as well as a dedicated VIP region. The property is situated in the seaside resort town of Loutraki. Located nearly 80 kilometers from the Greek capital Athens, town is a popular tourist attraction with its own natural springs and therapeutic spas.
In a statement from Monday, Easton pointed out that the firm CEO Evan Karras is familiar with the Loutraki casino and its operations as well as with the Greek gambling industry. The businessman participated in the privatization of gaming companies in the nation back in the 1990s and is currently seeking to expand his companies throughout the Greek gaming industry.
Easton also pointed out that the acquisition of a stake in the Greek casino complex will come in a substantial discount, because of Mr. Karras’ previous involvement in the local gaming industry. No purchase price was revealed in yesterday’s announcement.
Easton also announced earlier this year that it has entered into a Letter of Intent to participate in the development of a resort and casino hotel in Europe. Additional information about the unnamed project are yet to be revealed, and this is expected to take place once discussion period is closed.
The pharmaceutical business only revealed that it would partner with the American casino of a Canadian holding company that’s handling the project.
The casino resort is expected to feature a casino center with 1,000 slot machines and 50 gaming tables, a 538-room resort that will even offer VIP suites, retail facilities, a spa and health centre, a meeting and convention venue, and lots of food and beverage and entertainment choices.
The property will target high-end clients and will be located in a top side in “an idyllic lake ” area. Once completed, the property is expected to produce revenues of euro;77 million each year.
Easton’s interest to take part in several casino projects is a portion of the pharmaceutical business ’s approach to expand its footprint to the worldwide land-based casino gaming business, the business has said in previous announcements. It thus expects to create “growth and value ” that would additionally allow it to establish itself across different markets.
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