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Aug 2, 2006

Princess Casinos in Free Zone lay off 81 workers

Eighty-one employees of the Princess casinos at the Corozal Free Zone are out of a job tonight. A release from the company cites, (quote) “a dramatic increase in the costs of doing business,” as the primary reason for the lay offs, referring specifically to higher utility bills, an increase in casino license fees and business tax. Another major contributor is declining revenues occasioned by the legalisation of slot machine arcades in Mexico, the source of most of the casinos’ clientele. As part of its reorganisation plans the Princess Casino will close its table games and operate only with slot machines, while the nearby Golden Princess will maintain the full array of gambling choices. And while Princess is contracting, a new entrant to the industry, the Las Vegas Casino will be opening its doors before the end of the month. The fifty-five thousand square foot facility will initially employ around two hundred and fifty people.

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