Friday, March 31, 2006

"He also talked about the heavy political pressure on him and his administration since he took office but emphasized that he had never bowed to pressure and intimidation.

"But Ghoraieb criticized the Finance Ministry for 'unjustifiably slamming 30 percent in tax on the gross revenues of slot and poker machines although the contract clearly stipulates that the government collects LL1,000 a year from each slot machine.'

"The chairman, heaped praise on President Emile Lahoud for supporting his work and vehemently denied allegations that the casino was tucking away some of its revenues for nefarious purposes.

"…According to a 30 year contract with the casino, 30 percent of gross revenues go to the Finance Ministry. But the casino administration stressed that the 30 percent only applies to roulette tables, back jack and other table games.

"The Finance Ministry and the Central Bank control 48 percent of Intra Investment Company and the remainder is divided among Gulf and Lebanese shareholders…"