Eurovegas considers launching EUR 300mn casino project in Hungary.

By bne IntelliNews January 7, 2013
Eurovegas may soon launch a long-delayed project for the construction of a EUR 300mn casino and hotel in Bezenye, western Hungary close to the borders with Austria and Slovakia, after two new investors agreed to support the investment, MTI news agency informed. Eurovegas has recently signed contracts with Kimberly Group and a Spanish investment group, thus increasing the funds investors have for the project to 60% of its total cost and making financing the remaining sum possible. About half of the project's costs are to be financed from loans. The casino and the hotel, scheduled to be launched in early 2014, will create 1,200 jobs. The investors won a 20-year licence to operate a big casino in 2006 but the construction has been delayed due to the economic crisis.

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