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EUR 3 billion Eurovegas wins state approval |
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Monday, 01 October 2007 |
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The Finance
Ministry has signed a deal with Eurovegas Hungary to build a EUR 3 billion
casino complex on near the Austrian border. This comes after a delay due to a
disagreement with one of the company’s owners, the Australian-US owned Eighth
Wonder Capital Group, the daily Népszabadság reported last Monday.
Other
investors in the project include a US investment management fund linked to members
of the Guggenheim family and London
hedge funds. Credit Suisse is also reportedly interested in the project.
Eurovegas HungaryBezenye in north-west Hungary. The project will also
include numerous hotels and a colossal amusement arcade.
was awarded a 20-year licence to operate the casino complex in the summer of
2006. The terms of the contract stipulate that construction must begin by 2009.
EuroVegas will comprise five “super casinos” close to the town of
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