Casino expects good 2012 profits

Share price currently at $580

Casino du Liban is expected to see profits of around $30 million this year, according to a statement issued by its board of directors on Wednesday (November 14).

Casino du Liban over-the-counter shares currently sell at around $580/share. The Casino shares used to sell at $360/share before the current board of directors took over (two years ago), the statement said.

The Casino paid out $35 per share in dividends for 2011. Dividends of $155 per share were distributed in 2010.

Casino du Liban transferred to the Treasury $143 million in revenues for 2011, and $140 million for the year 2010. The Ministry of Finance receives 40 percent of the Casino’s annual revenues, according to a 30-year management contract.

Intra Investment Company controls 52 percent of the Casino’s shares. Abela Group has 17 percent, and Bank Audi Group holds seven percent of the Casino. The rest of the shares are held by individual investors.

The Ministry of Finance and the Central Bank hold 48 percent of Intra. The rest of the stake is divided among Lebanese and Arab shareholders.