In Greece, local casino operator, Theros International Gaming Incorporated, has reportedly changed the name of its Porto Rio Hotel and Casino after being forced to indefinitely close the seaside venue’s gambling operation.

New name:

According to a Wednesday report from, the facility located near the western port city of Patras shuttered its casino on the evening of November 25 and has since been rebranded as the Porto Rio Hotel.

Workers go on strike:

The source reported that the closure of the Peloponnese property’s casino came after its staff walked out on strike amid claims that they are owed approximately €5 million ($5.64 million) in unpaid wages. This state of affairs dates back some 14 months and was exacerbated after Theros International Gaming Incorporated asked these workers to reduce their hours and take a 25% pay cut.

Investor search:

Theros International Gaming Incorporated also operates casinos near the Greek cities of Alexandroupoli and Corfu and had earlier signed a deal that would have seen it avoid a strike by immediately handing over around €800,000 ($903,561) to its affected workers. However, Dimitris Karageorgopoulos from the Greek Federation of Private Casinos purportedly told that the firm had subsequently reneged on this commitment and decided to shut the casino in order to search for further investment.

Discussions ongoing:

For its part, Theros International Gaming Incorporated declared that casino turnover at the Porto Rio Hotel has declined by some 74% since 2012 but that it is currently engaged in discussions with at least three private entities regarding future investment and placing the venue on the ‘right track.’