A suspected scheme for the way capital was secured for the casino license in the “Air Albania” tower has been denounced by the Democratic Party, which claims that through the revaluation of a property and the change of shareholders, the law has been circumvented and certain interests have been favored, specifically those of Bledar Sinani.
According to the complaint, the license for exercising the casino activity was granted to the company “Space+”which initially had as shareholders ALB-STAR with 99% and the Czech company W-CZ Holding sro. with 1%.
The law requires that an entity applying for a casino license has a minimum capital of 1.2 billion ALL. According to the DP, this condition has not been fulfilled with monetary capital, but through a land introduced as a contribution in kind from ALB-STARa practice that the law allows.
Then, even though the company “Space +”turned out to be profitable during the years 2023-2024, the shares of ALB-STAR were sold to the company GLG INVESTMENT. According to documents filed with the National Business Center, the agreement for the sale of the shares was signed in August 2025, while approvals from the Gambling Supervisory Authority (AMLF) and the Competition Authority were then sought.
The complaint raises questions about the fact that the filed documentation does not show a price determined for the transaction or the complete agreement was not filed.
One of the main elements of the denounced scheme is related to the replacement of the company’s capital.
According to claims, after the approval of AMLF, the land of ALB-STAR has been replaced by another property owned by GLG INVESTMENTa forest area of 275,550 square meters in the area of Draç, Durrës.
According to the documentation cited in the complaint, this property was purchased by GLG INVESTMENTon April 9, 2025 for 32,239,350 ALL, or about 117 ALL per square meter, a price that, according to claims, matched the official reference of the area.
However, just a few months later, through an expert valuation report, the same property was valued at 2,556,732,008 ALL, about 26 million euros, and this value was used to increase the company’s capital.
According to the complaint, the revaluation was not accompanied by a fiscal revaluation in the mortgage or the payment of tax obligations, but was used as a basis to meet the legal capital criterion required for holding the casino license.
PD claims that this constitutes the essence of the scheme: a property bought for around 320 thousand euros has been revalued within a few months to around 26 million euros, serving as capital for the company that took control of the license.
According to the complaint, the investigations carried out by the opposition have also established that the property is part of a chain of transactions stemming from a property restitution decision in the Cape Rodon area, where the initial area was fragmented into several properties and transferred through sales contracts at the same reference price.
Another element of the scheme is related to the fact that a business contract with the company Premium Finance Invest, which according to the denunciation has an indirect connection with the businessman, is also registered in the card of this property. Bledar Sinani.
According to the DP, in this way the transfer of the shares of “Space+” BY ALB-STAR to GLG INVESTMENTwhile the responsible institutions, including the AMLF, the Competition Authority and the institutions responsible for the control of money laundering, have approved the procedures without evidence of violations.
The material, according to the opposition, will be referred to SPAK for verification of all claims and documentation that, according to it, supports the denounced scheme.
