Porto Rio Hotel and Casino rebrands after Final casino

At Greece, neighborhood casino operator, Theros International Gaming Incorporated, has allegedly changed the name of its Porto Rio Hotel and Casino after having the ability to forever close the beachfront venue’s gambling operation.

New name:

According to a Wednesday report by CalvinAyre.com, the facility located near the western port city of Patras shuttered its own casino on the day of November 25 and has ever since been rebranded as the Porto Rio Hotel.

The source reported that the closing of the Peloponnese land ’s casino arrived following its staff walked out on strike amid claims they are owed approximately €5 million ($5.64 million) in unpaid wages. This state of affairs dates back some 14 months and has been exacerbated after Theros International Gaming Incorporated asked these employees to reduce their hours and require a 25% pay reduction.

Investor hunt:

Theros International Gaming Incorporated also operates casinos near the Greek cities of Alexandroupoli and Corfu and had earlier signed a deal which could have seen it prevent a strike by immediately handing over around €800,000 ($903,561) to its impacted employees. But, Dimitris Karageorgopoulos in the Greek Federation of Personal Casinos allegedly told CalvinAyre.com the company had then reneged on this commitment and decided to shut the casino in order to search for additional investment.

Discussions continuing:

For its role, Theros International Gaming Incorporated declared that casino turnover at the Porto Rio Hotel has declined by some 74% since 2012 but it is currently engaged in discussions with three or more private entities regarding future investment and placing the venue on the ‘right track. ’