Cairo – Mubasher: Heliopolis Company for Housing and Development has started evicting Magic Dreams from Maryland casino on 29 May 2016, said the company in a bourse filing.
Earlier, North Cairo’s Court of Appeal dropped a lawsuit filed by Magic Dreams against the real estate developer over the casino and granted Heliopolis house a writ of ejection as per terms and condition set in the lease agreement.
Earlier, the board of directors announced targeting EGP 300 million net profits after tax and EGP872 million total revenues in the fiscal year 2016/17.
In late March, the board further approved 2016/17 investment plan at an estimated value of EGP550 million.
