
Ed Silverstein — casino.org — The government may sell its partial share of the gaming property, located about 14 miles north of Beirut, to raise money, according to a recent report from Middle East Eye. A leading gaming historian at UNLV, David Schwartz, concurred that Casino du Liban could be sold given the current dire economic conditions. I don’t see why it would be impossible,” Schwartz told Casino.org about a possible transaction involving Lebanon’s casino. “Everything is for sale at the right price.” He added that if a global casino operator took over the casino, “potentially” it could lead to more tourism in the once thriving nation. “It would depend on how much capital they were willing to invest in infrastructure and marketing,” Schwartz added.
When gross gaming revenue (GGR) was higher, the Lebanese government earned significant revenue from the gaming property. In total, 50 percent of all casino revenue goes to the Lebanese government, the report said. Some 80 percent of the venue’s revenue comes from 15 percent of its customers. That 15 percent is largely made up of tourists and players from foreign nations, Middle East Eye reported.
Lebanon Once Was “Monte Carlo of Middle East”









