A takeover offer for Slovenia’s Casino Portoroz dating from November is still in the works. Meanwhile, a new offer from Casino Bled is said to have been made.
The original offer, from Casino Riviera, Eurotas and the municipality of Piran in which Portoroz is situated, has the investors picking up almost a 52 percent stake in the financially troubled casino for €250,000.
In October, the partially state-owned funds Kad and Sod and insurance provider Modra Zavarovalnica called for bids on the Casino Portoroz stake. The funds also announced a tender for the purchase of 46.5 percent of shares of Casino Bled. The original deadline for submissions was November.
Now, state-run news agency STA is reporting that Casino Bled has emerged as a second bidder for the Casino Portoroz stake. How that will square with the deadline for bids having passed in November remains to be seen.
The original bid from Kad, Sod and Modra Zavarovalnica has an expiration date of February 21.
As an example of the Portoroz financial situation, a labor action that had been planned for the day before New Year’s Eve was postponed after management paid 60 percent of employees’ November salaries.