Talks between Club Hotel Loutraki stakeholder Queenco Leisure and a possible new investor have ended without an agreement.
The Israel-based company, which has a stake in several other casino properties, announced to the London Stock Exchange that the negotiations over a possible investment in the company or its controlling shareholder Queenco Ltd, had “ceased without a concluding binding agreement.”
On May 1, Queenco revealed that discussions were under way with a third party regarding a potential investment “in a significant amount.” No reason was given for them breaking down.
In recent weeks, the company has delayed publishing its financial results for the first quarter of the year. This was due to it having failed to receive the necessary information from Club Hotel Loutraki, which was hit by several labour strikes in May.
The results are now due to be published on June 30.
