Amid Covid-19 Crisis Egypt Open its Airspace- Crucial for Casino Operators

Egypt gradually reopens its airspace to international flights for the first time in more than three months, starting with coastal tourism from three tourist’s governorates-Redsea, South Sinai, and Matrouh to the Egyptian cabinet.

In contrast, the Covid-19 pandemic has upended the global economy, particularly in Africa, which is ill-prepared. At the same time, it as hurt the economies and with the restriction of movement and a lifeline for badly needed humanitarian aid while the region as been touted to face its first recession in a quarter-century. That has lost nearly $55 billion in the travel and tourism sectors in the past three months. The African Union says Airlines alone have lost about $8 billion. Some might not survive, which the continent has more than 463,000 confirmed Covid-19 virus cases. However, for casino operators in Egypt, it’s crucial for the survival of the business since the Egyptian Penal Code of 1937 of gambling laws does not allow Egyptian citizens to enter the casino gambling house or sell lottery tickets as well as offer price for lottery games. Since it’s a Muslim majority-dominated society which the Holy Quran book explicitly forbids gambling and calls it’s Satan’s handiwork. But still, gambling is legal only for those that own foreign passports.

The government recognized the essence of gambling how it could be an essential source of revenue with that in mind knowing Egypt is home to one of the most intriguing tourist destinations in the world. At the same time, it is most likely motivated by potential revenues there could generate from gambling, concerning this casino’s operators rely solely on tourists, obviously it is welcome development for them. Around 5 million tourists’ visitors are recorded yearly in the country, according to local publication Daily News Egypt. There are several licensed casinos to be found in Egypt, and gambling establishment congregates around the capital, Cairo and Sharm el Sheik. The casinos are generally attached to significant hotels currently; there are over 30 licensed casinos operation in Egypt, most of which accept payment in US Dollar only, while around 50% tax (GGR) Game Generated revenue of operators the government collects. Some of the popular casino games include American and European roulette, blackjack and several variations of poker along with slot machines and video poker.

While as stated earlier, land-based casinos are off-limits for holders of Egyptian passports, but still online casino gambling not regulated in the country; this means that, while there are no online casinos based or licensed in Egypt. The locals are free to play on different online casino sites available to them.

However, to add to it, Sports betting is one of the few forms of gambling legally available to locals and tourists. In 2005, the Egyptian National Post organization and Intralot signed an agreement to provide value-added services and games organization; there are currently hundreds of retailers in the country where sports betting is available. There are no online sports betting operators licensed in Egypt. There are several offshore online sports betting sites available from Egypt, where locals and tourists in the country alike may place wagers.

 

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.