“Having concluded a long-term lease for the Dragonara Palace and the adjoining grounds till 2083
through the unanimous approval of the Maltese Parliament, gives the
2083 has been a remarkable achievement. What does this mean for the company?
As any investor can appreciate, timing in large capital investment projects is key. Te current policy of issuing competitive tenders for casino concessions for a 10-year period is fair but has limitations in attracting long-term capital investment projects.
Having concluded a long-term lease for the Dragonara Palace and the adjoining grounds till 2083 through the unanimous approval of the Maltese Parliament, gives the company the necessary framework to be able to think long- term in the way it plans its investment.
Te long-term lease of the property does not mean that we will have a concession to operate the property as a casino until the lease expires but would certainly allow us to undertake the necessary investments in the property and create multiple activities beyond gaming.
Te uniqueness of the property coupled with our know-how of the market and our willingness to make sizeable investments going forward are
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company the necessary framework to be able to think long-term in the way it plans its investment.
The long-term lease of the property does not mean that we will have a concession to operate the property as a casino until the lease expires but would certainly allow us to undertake investments in the property and create multiple activities beyond gaming.”
the pillars onto which we will construct our future in this industry.
The last two years have been very challenging for the Casino. How has this impacted your operations and what are the challenges of the future?
Needless to say, the period March 2020 to June 2021 has been a roller coaster for the industry and an exceptional situation that was quite
challenging to manage. Te COVID-19 pandemic has reaped havoc on an industry that, until such time, was experiencing encouraging signs of growth.
In the past 16 months, we have had to endure a six-month lock-down which is unprecedented. Te biggest challenge was to keep the workforce motivated when there was no certainty as to when operations would resume. Despite all this, we have come out from the pandemic reasonably well, due mainly to a resilient local market that is extremely loyal to the Dragonara Casino.
Te local market has always been the bedrock of our operation, so when we reopened, we ensured that the local market was fully satisfied with the new casino experience.
Te main challenge in this respect was to provide peace of mind to patrons that the casino was a safe place to visit. We are very grateful that our efforts have thus far been rewarding.
Going forward, the main challenge will come in the form of ‘over regulation’. While we have
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