One of Europe’s oldest and largest casinos is fighting for its life as prosecutors try to force it into bankruptcy amid allegations of corruption.

Casino di Campione was established 101 years ago on the shores of Lake Lugano and is owned by the roughly 2k souls who call the municipality of Campione d’Italia home. The casino has been a money-loser for years, and prosecutors in the province of Como levelled allegations of financial impropriety against its operators last week.

The casino reported a CHF8m (US $8.3m) loss in 2012, and losses have accelerated ever since, resulting in a 2016 balance sheet that showed assets of CHF21m and liabilities of over CHF65m, including bank debt of CHF39m.

Prosecutors concluded that the casino appeared incapable of generating profits, “nor to achieve its social purpose, the budget balance of the city.” By law, the casino must transfer a fixed sum each year to the municipality, an Italian enclave within the Swiss canton of Ticino.