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200-table casino planned for Hungarian lake resort
A casino with 200 tables and 2000 slots is to be built as part of the 1bn Euro ($1.5bn) King's City resort development on the shore of Lake Velence, near Budapest in Hungary.
The licence for the casino has been won in a competitive tender process by KC Bidding, a Hungarian firm 75 per cent owned by resort developer Vigotop and and 25 percent owned by American Chance Casinos, part of the Trans World Corporation group.
The licence will run for 20 years from the casino's planned January 2014 opening, with an option to extend for a further ten years. It calls for a minimum of 100 gaming tables and 1000 slots, although the developers plan at least double that.
The resort will also include hotels, villas and apartments; a spa and wellness centre; an event and conference centre; shopping malls; facilities for golf, ice-skating and horse-riding; an aquarium and a museum; and amusement parks.
Developer and former Estee Lauder CEO Fred H. Langhammer commented: "The location of Hungary in central Europe and the relative stability in the number of tourists for each quarter during the year were a key factor in our decision to select Hungary as the development site."
