AFRICA: EGYPT Focus


The majority of casinos are found in the three main cities, Alexandria, Cairo and Sharm el Sheikh. Cairo is home to about 20 casinos and the largest casino in Egypt in terms of number of slots and tables is Cairo Marriot Hotel and Omar Khayyam Casino. The Sheraton Cairo Hotel is the largest in terms of floor space. Casino cruises are also available.


Frustratingly Egypt has proved to be quite a closed shop in terms of information on this sector even though it basically runs hand in hand with the tourism sector. Operators say around 50 per cent of revenue in the casinos comes from the tourism sector whilst Gulf VIPs traditionally make up the remaining 50 per cent although this can be much higher in some casinos.


The general consensus is that so long as the tourists continue to travel to Egypt and stay in ‘casino hotels’ then this demand for a gaming industry in Egypt is expected to continue and do so successfully.


One industry source who did not wish to be named, said: “The future is uncertain. Currently in Egypt the President has a business friendly approach to businesses and casinos but he is ageing and will step down soon so gaming could change abruptly overnight depending on the new leadership and government.


“We have seen growth that is almost parallel to the tourism industry and we have done well during these economic challenges. As long as Egypt continues to be a tourist hotspot casinos will benefit from them.”


Running casino operations in Egypt has always been fairly lucrative. There is an inexpensive and skilled labour pool available plus inexpensive energy costs. Operation costs are significantly lower than say those in Europe or America and marketing costs are also low as the hotels, vehicles and food are all cheaper although imported alcohol is still subject to a 300 per cent tax so casinos do not have a traditional ‘free drinks’ policy however.


Poker is growing substantially and has quadrupled in the last three years and is a major money spinner in most casinos compared to traditional table games. Sinai Grand Casino for example has become a leading destination for Texas Hold ‘em poker tournaments in the Middle East and says it resides in terms of revenue just below Blackjack.


The casino built a separate poker room two years ago and currently operates four tables nightly with up to 25 tables for the


G3 I JANUARY 2011 I PAGE 31


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