The tender for a category one casino licence in Hungary has attracted just one bidder. KC Bidding has applied for the 20-year concession with a project to build a casino and tourist complex near Lake Velence in the Central Transdanubia region. The Finance Ministry put out the tender in February for the Class I casino with up to 1,500 slot machines and 100 gaming tables.

KC Bidding must now produce guarantees regarding its investment and plans before the Ministry signs the licence agreement. The minimum registered capital required for a category 1 licence is HUF1 billion (US$5.12 million). The group, comprised of US, Israeli, German and Hungarian investors, also must finalise the legal status of land where the complex is to be constructed. In July the Land Office in Pest County rejected on technical grounds a land transfer between the Hungarian State Holding Company and Joav Blum, and gave a period of 30 days for the decision to be appealed. The 70 hectare site for the proposed €1.5 billion King’s City complex is on the outskirts of Sukoro.

Of the five casinos presently operating in Hungary – none is category I – two are operated by the state (in Gyor and Kecskemet) and three are concessions (in Sopron and two in Budapest). Another category I development, known as EuroVegas, has been planned for the Benzenye area near the borders of Austria and Slovakia since early 2007 but hit various problems. In June this year Hard Rock International announced an agreement to develop Hard Rock Hotel and Casino Hungary, expected to open in early 2012. The new Hungarian gaming law permits up to five category I casino licences. (E-08.17.09)

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