Shmuel Flatto-Sharon said most of the profits from the casino would go to the state in tax.
German-Jewish businessman Alexander Tessler, who owns the Princess Hotel Eilat, is promoting the joint construction of an $80 million casino in his hotel with Shmuel Flatto-Sharon. Tessler and Flatto-Sharon met yesterday to thresh out the plan, and announced that they would form a group of investors.
Tessler has been promoting the establishment of a casino in hotel for several years, and has prepared a 4,000-sq.m. hall for the purpose.
Minister of Finance Benjamin Netanyahu recently announced that he would back a casino bill. Minister of Tourism Abraham Hirchson and all Eilat hoteliers support the proposal.
Flatto-Sharon estimates the investment in building a casino in Eilat at $80 million.
Published by Globes [online] - www.globes.co.il - on May 26, 2005