Reports LEBANON - MARKET UPDATE


Poker is legalised in the


In 2010, casino revenues reached around US$285m. It is said around 80 per cent of the casino’s GGR comes from 15 per cent of its VIP and international players.


Te majority shareholder is Intra IntraBank (52 per cent), private investors (32 per cent) and Abela Tourism and Development Company (15 per cent).


Intra Bank was the largest financial institution in Lebanon until its collapse in 1966 during a financial crisis. Tis crisis has much similarity to the current economic situation in Lebanon.


After the 1966 collapse, a restructuring programme was introduced with the Central Bank and the Lebanese government took over the majority of the bank’s shares (15 and 10 per cent respectively). Te successor company was


P62 WIRE / PULSE / INSIGHT / REPORTS


country and run via Casino du Liban. The casino launched the Lebanese Poker Championship in 2009. The gambling age limit is 21 years and above although Lebanese nationals and residents who are bank employees,


government or public sector or military employees and earn less than 100 times the minimum income rate annually are not permitted to enter the casino.


called Intra Investment Company and remains a major shareholder in Casino du Liban plus others such as Middle East Airlines and Bank Al Mashrek.


Intra’s website is currently inactive and the company does not publish annual reports or financial statements contrary to legal requirements.


Poker is legalised in the country and run via the Casino du Liban but there are no standalone poker halls in Lebanon and no licences issued. Te casino launched the Lebanese Poker Championship in 2009.


Te gambling age limit is 21 years and above although Lebanese nationals and residents who are bank employees, government or public sector or military employees and earn less than


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