Schleswig-Holstein Moves to Sell Four Casinos by Year-End

Schleswig-Holstein’s November 10 budget update reaffirmed plans to complete the casino sale by year-end. According to NDR, Finance Minister Silke Schneider declined to disclose a price while bidding continues.

Merkur and Casinos Austria Reportedly Visited Sites

Casino employees told Kieler Nachrichten that representatives of Merkur and Casinos Austria had inspected several locations in recent weeks, including Kiel and Lübeck.

Neither company confirmed its participation in the bidding process. The state government also declined to comment on potential buyers, citing confidentiality.

The transaction involves Spielbank SH GmbH and its subsidiaries, which operate casinos in Kiel, Lübeck, Schenefeld and Flensburg.

Four Casinos, but a License for Five

Spielbank SH holds a 15-year concession covering five casinos, valid until December 31, 2040. Yet only four locations currently have operating permits.

Schleswig-Holstein’s official casino listing, updated on October 21, names Kiel, Lübeck, Schenefeld and Flensburg.

Two Financial Figures, Neither a Sale Price

The public documents contain two amounts that refer to different parts of the process:

• €113.5 million – additional income expected from state company holdings in the revised 2027 budget. Only part of this figure relates to the planned casino sale.
• €1.738 billion – estimated turnover for Spielbank SH across 2026–2040, according to the published sale notice. This is a 15-year projection, not the company’s purchase price.

The EU-wide sale procedure began in May 2026. Its published award criterion is the highest purchase price offered for the company’s shares.

A winning bid would still require approval from the state’s Interior Ministry, with Finance Ministry consent, and the state cabinet. The state parliament has also asked the government to submit the negotiated terms to its Finance Committee for approval before the sale.