Italy: Casino in Campione is about to reopen

The corona pandemic caused in the last two years for big fuss. The gaming industry in particular was affected by the restrictions and was usually the last to reopen. There were also some local casinos and arcades that had to close forever due to the lockdowns. However, despite the corona pandemic, there are also rays of hope, as Campione in Italy shows: the casino that was closed in 2018 is to be reopened.

Der Hafen von Campione d´Italia bei Nacht.

The opening of the casino in Campione d'Italia has been postponed to January.|| |50(©alaniselin/Pixabay)

Reopening must be postponed

Originally, the formerCasino in Campione to reopen at the end of this year. But the corona virus is again to blame for the fact that a plan cannot be put into practice. So the hope is that the casino will open its doors in mid-January 2022. By then, the building will be lit again to increase anticipation. However, this time it should not just be a casino. Rather, the plan is to create a meeting place for the entire family. What that means? Quite simply: In the casino building not only a gambling hall is installed, butalso restaurants, shops and even an event hall. These ideas were not only created to offer local families an exciting place. Of course, the reopening and the other locations should attract tourists. There are many good reasons for this: Since the casino closed in 2018, the community has suffered from economic problems. The reopening of the casino should eliminate these problems.

Local people left town

The formerCasino in Campione d'Italia was theMain source of income of the Italian town, which is however separated from the rest of Italy. The village is surrounded by Swiss mountains and Lake Lugano. When the casino closed for financial reasons in 2018, many locals left Campione. This was partly due to the fact that schools and kindergartens were also closed. In addition, 80 community workers lost their jobs due to the casino closure. Far worse, however, was the fact that 500 people were employed in the former casino in Campione d'Italia. These, too, were unemployed after the casino was closed. In order to bring the small town back to life, the casino should also open again. However, one piece of news mars the residents' joy: 500 employees are not needed,but only 200. Managing Director Marco Ambrosini stated that the community was no longer dependent on the casino. Previously this would have been the case. Why is the casino opening its doors again now? There is also an official reason for this: As already mentioned, tourists are to be attracted again. However, this should have nothing to do with the surrounding casinos. Rather, the plan is to advertise thearea as a casino country and thus to attract holidaymakers who are staying in Ticino and Italy.

Könnten finanzielle Sorgen in Campione beendet sein?

The closure of the casino in 2018 not only caused many to leave their homes and businesses to close. Even those who remained loyal to their city suffered from the financial hardship. For example, pensioners in Campione received a pension subsidy that was not paid out in other Italian cities. With theclosure of the casino, these subsidies also fell away. As a result, several residents had to change their behavior. Will the grants be paid out again? There is no official announcement about this. In general, it seems that the population is not as happy about the reopening as was actually expected. Nevertheless, preparations for the opening are in full swing andnot only play equipment delivered. Drinks and more are already being transported into the casino building. All this leads to nostalgic feelings in some residents and memories of the glory of bygone times are activated.

Casino declared bankruptcy in 2018

The former casino in Campione was closed in 2018, since it declared bankruptcy. Thedebts have not been settled until today, which means that there is no external financing today. The reopening must be unleveraged and all creditors must receive their money within the next 30 months. The operators of the casino hope to be able to pay the former debts with the casino's new income. According to one estimate, the casino could take over 100 million euros in the first year. Paying off the existing debts may be one of the reasons why the casino starts with a smaller number of employees. After all, the casino had debts of more than 73 million euros inyear 2018, although the casino was always happy to have many guests. One reason for the debt, however, lies in the former strengthening of the Swiss franc against the euro: the casino took amounts in euros, but had to pay the taxes in Swiss francs. In addition, the number of employees had increased significantly at the time, which also meant that neither taxes nor salaries could be paid. Incidentally, the new opening is not the first. The Casino in Campione d'Italia was founded in 1917 andwas already closed once in 1919. At that time we had to wait longer for the reopening, which took place in 1933. Nothing changed until 2007, when the now familiar building was built. Nothing changed in terms of ownership, because the casino has been state-owned since it first opened.

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The article was published on January 7th, 2022 in the magazine by Fraudtest.com under the keywords,,, , published.
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