It’s a story about how the poker established casino “Concord Card Casino” became the leader of its industry in Austria in 26 years, and then “collapsed” in a few months.
According to the director of CCC there is a “legal” chaos in the country, where the parliament openly supports a monopoly on the gambling market.
It was a great business
“Concord Card Casino” declared themselves bankrupt on March 2 – the state imposed exorbitant taxes on the network’s establishments, that are 5 times bigger than their income. In total, there were 12 poker rooms, which were functioning in Austria. There were held lots of local poker series. For CCC Director Peter Zanoni it is a great disappointment, because he was working on this network for 26 years, and he succeeded in building of “Leading poker and Sports Company in Europe.”
But unfortunately in just a few months the company has accumulated 600 million euros of tax debts, although its annual turnover was up to 30 million. So in the end about 600 people will lose their jobs.
Why did the government destroy “Concord Card Casino”?
At the end of 2019, Austria passed a law that recognizes poker as a game of chance and forbade private institutions to organize them. Since January 31, 2020, the poker license has been exclusively owned by the state casinos “Casinos Austria”. They had a license for 15 years, which allowed them to work without hindrances, while the legal activity of private and foreign businessmen became more complicated in the country.
According to Peter Zanoni, he has already filed a complaint with the Austrian Constitutional Court about the monopolization of gambling in the country. The man also says that for him it is like the battle of “David and Goliath” – where the authorities refuse to recognize the level of taxation as a “suffocation”, which has caused the bankruptcy and closure of CCC.
Competitors seize the moment
Most of the Concord Card Casino establishments were opened near the borders with Germany and the Czech Republic, in northern Austria. And since the last six months in the network began to appear news about the imminent closure of CCC, foreign competitors began to open slowly their own establishments at the borders, which are aimed at Australian residents.
Other information about competitors… When the news about the CCC bankruptcy and their conflict with the Austrian parliament continues to grow, Leon Zuckernik shows a “master class” in international poker business. Let’s remember that in November 2019, he acquired the large “Atrium casino” at the Hilton Hotel in Prague, and after only a month received a license to host EPT 2020. Some days ago “Atrium casino” was renamed as “King’s Casino Prague” and this is the second Zukernik institution, which can also be called one of the potential locations of poker players from Austria, that can’t more enjoy poker game in their well-known “Concord Card Casino”.