A Las Vegas style casino in the Bezenye area of Hungary has been in the pipeline since 2001 but was granted a concession in 2008 and construction was expected to begin that November with opening scheduled for later this year. However, the economic crisis since then has taken its toll and when, in February 2009, the Hungarian government put out a tender for another category one casino licence (five are allowed under the new law but none exists so far) only one bid was received for the 20-year concession. This seems to have been symptomatic of the declining gaming industry in the country, where machine numbers have been decreasing over the last four or five years. In 2009 around 25,000 gaming machines were in operation, down from 33,000 in 2005.

The Hungarian Gambling Association (MSZSZ) members reported an average 15% loss of revenue last year. The gaming machine sector now accounts for about one-third of the gambling market revenue in Hungary. Some 14% of Hungarians play the machines compared to around 40% buying lottery tickets. According to the country’s tax department, last year gambling revenue was down 7.4% from 2008 and tax revenue fell to €133.9 million from €150 million in 2008.

EuroVegas Hungary Ltd, owned by the Austrian companies Asamer Group and the Supersberger Group, which is developing the major entertainment center in Bezenye near the borders with Slovakia and Austria, believes that although the economic crisis has slowed the project’s timetable it will have little significance in the long term. Last June Hard Rock International announced the location will include a Hard Rock Hotel and Casino, expected to open in 2012. It is estimated that over a 10-year period tax on gambling at the casino will reach nearly €50.5 million. (E-03.04.10)

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