Focus
AFRICA: EGYPT
quarterly international tournament. Cash games can operate at a €1000 buy in although there are also €100-€200 tables for the casual players.
On the downside however as local Egyptians are not permitted to gamble there is a huge number of potential players which cannot contribute to the casino business.
THEOPERATORSANDOPERATIONS There are several operators and many independent operators and many are made up of European conglomerates with several tier level partnerships and it is difficult to ascertain who actually owns the casinos.
It was announced last year that MGM Mirage is now planning on building a super casino resort in Giza, just outside Cairo, which is causing some concern for operators.
The development is between MGM and New Giza for Real Estate Development who is providing the funding for the huge community project which will include a 550 room MGM Grand hotel on 1,500 acres of land with homes, hotels, restaurants, malls and golf course. The
development is due to be completed in 2013.
Some of the main key group operating companies present in Egypt at the moment include:
CASINOSAUSTRIAINTERNATIONAL which operates two casinos in Egypt – The Casino Semiramis in Cairo and Casino Royale in Sharm el Sheikh.
INTERNATIONALGROUPOFGAMING&RESORTS. This is a privately held company owned by the Raineau Group from France. The business consists of management of casinos, casino hotels and bingo parlours in France, Dutch Antilles, Argentina and Egypt.
IGGR was set up in 1959 with the operation and financing of the Baccara Game in the casinos of France. Since 1983 IGGR has controlled 86 per cent of the French Baccarat market and has become the number one Baccarat operator in Europe.
IGGR’s business is run via it’s sister company in Egypt, Grand Cairo for Tourism and Entertainment (CTAG) which has three casinos in Cairo and one in
G3 I JANUARY 2011 I PAGE 32
Poker is growing
substantially and has quadrupled in the last three years
and is amajormoney spinner inmost
casinos compared to traditional table
games. SinaiGrand Casino for example
has become a leading destination for Texas Hold ‘empoker
tournaments in the
Middle East and says it resides in terms of revenue just below Blackjack.
Sharm El Sheikh via sister company GETEG.
The three casinos in Cairo are Al Gadeed Casino (Shepheard Hotel), Les Ambassadeurs Casino (Pyramisa Hotel), Radjah Grand Casino (Sonesta Hotel) and the Sinai Grand Casino in Sharm el Sheikh. GETEG (Tourism and Entertainment) is a company which develops tourism in the Red Sea Resort of Sharm el Sheikh.
LONDONCLUBSINTERNATIONALhas been operating in Egypt for over 10 years and currently operates two casinos in Cairo – The London Club Cairo located at the Ramses Hilton Hotel and Caesars Cairo located in the Four Seasons Residence Hotel Giza.
CONCORDEHOTELSANDRESORTS is a brand within the Groupe du Louvre which manages seven owned properties and five leased properties plus sales, marketing and distribution support to a network of 15 affiliated hotels across Europe, North Africa, Asia and the US.
The company itself dates back to 1855 when the first hotel was built in France whilst the brand was created in 1970.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92