Three casinos pass to the control of Intrum Hellas

The casinos of Corfu, Rio and Alexandroupoli have just completed the first key step toward their inclusion in the debt restructuring process of Article 106 of the bankruptcy legislation.

Greek-owned British investment fund Glafka Capital has agreed with the bad-loan management company Intrum Hellas to buy, at a significant discount, the bank loans of the companies managing those three casinos.

These are companies that form part the Piladakis group, whose bank liabilities are of a nominal value of 130 million euros. Market sources say the transaction price will be marginally above 10% of the loans’ nominal value.