For months, our region has been plagued by the Rio casino “affair”. No one knows the details, no one informs, no one seems to care about the future of 220 jobs, that is, 220 families experiencing insecurity, while at the same time being deprived of income.
Who benefits from closing Rio’s casino?
Investment circles consider that, the closing of the business it is almost final after the decisions of both the Gaming Supervision and Control Committee and the Multi-Member Court of First Instance of Patras. We do not know if there can be an appeal against the EEEP’s decision. For the time being, only the demonstrated and demonstrated indifference of those involved is being commented upon by investment circles. So the main question is who benefits directly or indirectly from this development? The investors? The State? The workers? The local community? The government? The previous administration of the late Mr. Piladakis?
The answer is as simple as it is blunt: Probably no one, at least to the extent that they should. And we say probably, because we cannot be absolute. So we make an X-ray of attitudes, positions, actions, reactions and initiatives trying to shed light and also to motivate those who are institutionally obliged to do the right thing to save it if this is now possible. It should be noted that even at this moment there are also our fellow citizens with an institutional role, who act (?) as if they do not understand what is going on.
They are at least idle. Don’t they understand the cost to workers? Do they not understand the cost to the local economy and society? How have they dealt with it? Preventing the acquisition of the late Mr. Piladakis by a new investment scheme, which, as it has been argued, provided guarantees for the viability of the business, jobs and payment of Theros’ debts to the State?
While everything was hanging by a thread and despite all sides they committed before the Minister of Labour, Adonis Georgiadis, of the President of the Gaming Commission (EEEP) D. Dzanatos and the internationally renowned company of statutory auditors Ernst and Young (EY), which prepared the reorganization plan and committed to drawing up the new rescue plan for the casinoalthough decisive factors were subsequently neglected. This new project takes into account the new data as formed by the decision of the Court of First Instance of Patras and the rejection of the request for temporary order from the Court of Appeal of Patrasan effort to which almost all those involved (public, employees) reacted, resulting in its rejection. EY, for its part, delivered the new rescue plan as it was due. And while the side of the investors agrees with the changes, thus giving the green light for the procedures to proceed, those who must stubbornly refuse for months to inform the workers about this plan. The latter, of course, with these developments, instead of receiving the millions of euros they worked for, are entitled to and offered with the success of the consolidation by the investors, they risk not getting even 1 euro.
Do competitors benefit? Is it true that the comprehensive new investment resolution and resolution plan has not been brought to staff to discuss; That it has not been filed, it has not been presented to their competent bodies (Board of Directors and General Assembly)? Why did the union of the workers of the casino of Rio issue a statement asking for impossible and ultimately unprofitable moves for the workers, such as the auction of the casino license with a new “international tender’ and a non-existent temporary license in the interim? Are employees aware of how much this will delay the investment? Are workers and their families enduring more suffering? After there is the investorwho indeed in good faith has already paid 1.8 million euros to the employees without ensuring the consolidation of the business while information they state how he will pay them lump sum accruals with the validation of the new resolution.
The manipulations that are done in the case from the side a lot specific determinantsonly to a good result does not seem to lead. We refuse to believe malicious rumors of collusion with tactics and strategies that may give a competitive advantage. Is it not possible to believe that during the most difficult moment of the Casino of Rio, the local society and the families of the workers, some act even now with different and indiscernible criteria?
Is it about time, yes? everyone take their responsibilities, to find a way to turn the situation around and coordination with the investor so that – if possible – the resolution procedures proceed with EY’s proposed plan with which everyone agrees at least verbally; Is it time for the state to institutionally facilitate the consolidation so that the investment is realized? Could it be that if everyone persists in their inaction or in vague solutions like that of temporary permission to unknown suitors and on unknown terms the effort that has begun will fail? Who will be the losers and who will be the winners?; Lost, certainly the workers and the Greek State.
Has the time come for each worker to take charge of his fate and the representatives of the Greek public the responsibility assigned to them for safeguarding the interests of the State?
We wonder if the stakeholders understand that everyone must assume their responsibilities and if there is still time to help complete the consolidation, which ensures jobs, repayment of accrued income and repayment of debts to the Greek State in the context of the consolidation plan and the court decision. Can we accept that logic and realism are the elements for solving problems? at the local community level at least?
It’s time to do it prove if we want to be one country attractive and reliable for foreign investmentsas we have been drumming up abroad for the last five years.
#truth #Rio #casino
Table of Contents
The Rio Casino Affair: Who Benefits from the Closure?
The Rio casino “affair” has been plaguing our region for months, leaving 220 jobs and families in uncertainty. The closure of the business seems almost final, but the question remains: who benefits from this development?
The Uncertain Future of Rio Casino
The Gaming Supervision and Control Committee and the Multi-Member Court of First Instance of Patras have made their decisions, and the indifference of those involved is evident. The investors, the State, the workers, the local community, and the government are all affected, but who benefits?
The New Investment Scheme
A new investment scheme was proposed, providing guarantees for the viability of the business, jobs, and payment of Theros’ debts to the State. However, this plan was neglected, and the Court of First Instance of Patras rejected the request for a temporary order.
Ernst and Young’s Rescue Plan
Ernst and Young (EY) prepared a reorganization plan and committed to drawing up a new rescue plan for the casino, taking into account the new data formed by the decision of the Court of First Instance of Patras. The investors agreed with the changes, giving the green light for the procedures to proceed, but the workers were not informed about the plan.
The Consequences
The workers, instead of receiving the millions of euros they worked for, risk not getting even 1 euro. The union of the workers of the casino of Rio issued a statement asking for impossible and ultimately unprofitable moves for the workers. The investors, who have already paid 1.8 million euros to the employees, are willing to pay lump sum accruals with the validation of the new resolution.
Manipulations and Unhealthy Tactics
There are manipulations and unhealthy tactics being used in the case, which do not seem to lead to a good result. The refusal to believe malicious rumors of collusion with tactics and strategies that may give a competitive advantage raises questions about the true intentions of those involved.
Time to Take Responsibility
It is time for everyone to take their responsibilities and find a way to turn the situation around. The state must institutionally facilitate the consolidation, and the investor must coordinate with the workers to proceed with EY’s proposed plan. If everyone persists in their inaction or in vague solutions, the effort that has begun will fail, and the workers and the Greek State will be the losers.
The Fate of Rio Casino
The fate of Rio Casino hangs in the balance. Will the stakeholders understand that everyone must assume their responsibilities and take action to save the business? Or will the casino be lost, along with the 220 jobs and families that depend on it?
The Rio Casino, located in Patras,
Excalibur Hotel & Casino
The Rio Casino Conundrum: Unraveling the Mystery of its Closure
For months, the region has been grappling with the enigmatic case of the Rio casino, leaving 220 families in a state of uncertainty and financial distress. The closure of the business has sparked a flurry of questions, with no one seemingly willing to provide answers. In this article, we will delve into the intricacies of the situation, exploring who benefits from the closure and what lies ahead for the workers, local community, and investors.
The Rio Casino: A Tale of Uncertainty
The Rio casino, a once-thriving entertainment hub, now finds itself in a state of limbo. The investment community has deemed the closure of the business “almost final” following decisions by the Gaming Supervision and Control Committee and the Multi-Member Court of First Instance of Patras. While there is still uncertainty surrounding the possibility of an appeal against the EEEP’s decision, one thing is clear: the indifference of those involved has led to widespread confusion and anxiety.
Who Benefits from the Closure?
The question on everyone’s mind is: who stands to gain from the closure of the Rio casino? Unfortunately, the answer is not straightforward. The investors, the State, the workers, the local community, and the government all seem to be stuck in a web of indecision. It is possible that no one benefits from this development, at least not to the extent that they should.
The Role of Investors and the State
In light of the EEEP’s decision, one cannot help but wonder why the acquisition of the Rio casino by a new investment scheme was prevented. This scheme, as argued by some, provided guarantees for the viability of the business, jobs, and payment of Theros’ debts to the State. The reluctance of those involved to inform workers about the new rescue plan has only added to the chaos.
The Impact on Workers and the Local Community
The closure of the Rio casino has put the livelihoods of 220 families at risk, leaving them in a state of financial insecurity. The workers, who were entitled to millions of euros, now risk not receiving even a single euro. The local community, too, will suffer from the economic fallout of the casino’s closure.
The Competitors’ Gain
Do competitors stand to benefit from the closure of the Rio casino? The answer is unclear, but what is certain is that the comprehensive new investment resolution and resolution plan have not been presented to the workers or their competent bodies for discussion. The union of Rio casino workers has issued a statement asking for impossible and ultimately unprofitable moves, such as the auction of the casino license with a new international tender and a non-existent temporary license in the interim.
The Investor’s Commitment
It is worth noting that the investor has, in good faith, paid 1.8 million euros to the employees without ensuring the consolidation of the business. This move has raised questions about the investor’s commitment to the workers and the future of the casino.
The Way Forward
As the situation remains shrouded in uncertainty, it is essential to scrutinize the actions, reactions, and initiatives of those involved. The investors, the State, and the workers must come together to find a solution that benefits all parties. The local community, too, must be taken into account, as the closure of the Rio casino has far-reaching consequences for the regional economy.
the closure of the Rio casino is a complex issue with no straightforward answers. As we delve deeper into the mystery, it becomes increasingly clear that what is needed is a collective effort to find a solution that