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Bailiffs evacuate Campione's casino.

The Casino Campione d'Italia has been shut down due to financial insolvency, with debts totaling 132 million euros. More than 500 employees gathered in protest.

SymClub
May 28, 2024
3 min read
Newsonlinecasinosgermany
Das Casino Campione d’Italia, hier noch zu besseren Zeiten, ist inzwischen Vergangenheit. Der...
Das Casino Campione d’Italia, hier noch zu besseren Zeiten, ist inzwischen Vergangenheit. Der Komplex wird womöglich zu einer Spezialklinik umfunktioniert.

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Bailiffs evacuate Campione's casino.

Closed due to debts, the renowned Casino Campione d'Italia on Lugano Lake finds itself in a dire situation. Court bailiffs shut down the casino, leaving around 500 employees out of a job. Located in a separate Italian enclave, Campione d'Italia's future also hangs in balance. Completed about a decade ago, the beautiful casino complex designed by well-known architect Mario Botta now stands desolate.

Despite celebrating its 100th anniversary in 2017, the Casino Campione recently experienced an abrupt ending. Facing bankruptcy, the casino was deserted as the financial officers from the Italian city of Como and the province city of Como seized control, locking out employees and customers on July 27, 1:30 pm. Reports suggest astounding debts of 132 million euros.

Within the complex, 50,000 square meters in size, employees have been protesting outside the main entrance, demanding help. "SOS! Campione is dead" and "Help! Campione is dead" declare their banners, some even sporting "Save Campione" shirts. The president of the works council, Rosy Bianchi, active there as a croupier for years, emphasizes the devastating impact it has left.

Botta's architectural masterpiece looks empty, surrounded by colossal debt. However, it's not completely bereft of people. The approximately 500 employees, whose livelihood depended on the casino, now gather, hoping for a miracle. But it seems hard to fathom since Campione accrued 132 million euros in debt.

This situation has turned into a significant struggle. "An incredible drama for us, our families, and the whole village," says Rosy Bianchi, pointing out the ruthless impact of the casino shutdown. Despite demonstrating outside the bankruptcy court and the regional administration in Milan for over three weeks, they've only gained weak support.

Leonardo Pace, who's been working at the casino for over 20 years, seems to fear for his mortgage payments, finding himself stuck in uncertainty. As a Swiss commuter living in the Campione-enclosed Ticino, Pace feels deserted by everyone. While acquaintances display sympathy, he feels overlooked.

The fate of the population of Campione, a pension-rich enclave, remains uncertain. This region has been a wealthy Italian territory through its gambling revenue for over four decades. However, they now owe more than 25 million euros in their budget. The only 100 municipal workers don't have been paid since February.

Despite the Mayor and President Roberto Salmoiraghi's verbal assurance of "resurrection like Phoenix from the ashes," this seems improbable. And the same goes for the contemporary casino complex. Italian newspaper La Repubblica has reported various ideas to save the complex - including converting it into a clinic. Campione's head Salmoiraghi has considered the suggestion, but a decision has not been made.

Moreover, lamenting suggestions have emerged about Campione's fate. The enclave between the Euro and Franc zone has been struggling with the Swiss currency's appreciation and a double fiscal policy project that went wrong. The local news suggested it would lead to bankruptcy. Salmoiraghi's hopes for a casino salvation now seems too optimistic given the significant debt pile.

Rumors of total annexation to Switzerland have been discussed, maybe for good reason. Residents can already work in Switzerland, and all its revenue is swiftly taxed according to the Swiss-Italian double taxation system. The possibility of converting the property into a clinic also seems practical, providing them with a sustainable source of income. The lack of political response from Switzerland's government is viewed mysteriously, given the potential utilization of their healthcare system.

Around 500 casino workers are left unassisted by such debates - at this stage, the final word has already been uttered, sadly without being spoken. The shutting down of the Casino Campione signals the end of a century-long gambling tradition. The fate of staff, the town, and the structures in question is yet to be determined.

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Source: www.onlinecasinosdeutschland.com

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