Miloumor, which owns about one fourth of the casino, wound up 1996 with a profit of NIS 18.6 million.
Miloumor’s controlling shareholder, Freddy Robinson, need not look to his vast experience in engineering works, nor to the major real estate projects entered into by Miloumor in the past year, or even to the fascinating joint venture for setting up an electricity meters reading systems manufacturing plant in China. What generates public interest and also profits for Miloumor, is the prosperous casino in which it is a partner in the town of Lutraki, Greece.
The casino is controlled by two groups of Israeli investors, Club Hotel and Resido FIBI, in which Miloumor has a 50% holding. According to its figures, it ended 1996 with revenues of NIS 336 million, net of turnover tax which rose that year from 22% to 33%.
The casino has been in operation since September 1995, and its operating profit reached NIS 175 million in 1996, while net profit amounted to NIS 80.1 million. Miloumor’s share in the casino’s profits stands at 24.5% and amounted to NIS 19.6 million.