For the second time in about 30 days, Harrah's Entertainment has decided to expand more casino gambling by an international project. There may be a new level of casino gambling as Harrah’s Entertainment’s systematic takeover of the entire civilized Western world: it would appear that the world’s largest casino company is now creeping into Eastern Europe as well.
Harrah's Entertainment has signed a non-binding letter of intent with TriGranit, a Hungarian developer, to manage casinos and hotels that would be part of a $2.2 billion mixed development known as "Metropolis" outside of Bratislava, Slovakia.
Harrah's has made several preceding attempts to her foot in Eastern Europe, but so far has not been able to secure entry. A plan to partner with a Slovenian company to develop a casino there was uphold over last year.
“Under the plan, Harrah's would contribute less than $50 million to the project, there is still no guarantee the deal will go through. Harrah's involvement is dependent on TriGranit receiving the necessary governmental approvals to proceed with the development. Even if it succeeds, it could some time before the project breaks ground.” Harrah's senior vice-president of communications Jan Jones confirmed the report.
The “Metropolis” development plans covering a retail mall, adventure and water parks, a golf course and hotels and casinos. The project is slated to begin in 2010, and will take shape in phases over the following subsequent 5 years. Part of its first phase would be the openings of 3 hotels and a casino, slated for the first quarter of 2012.
Moreover, the “Metropolis” is planned for 74 acres outside Bratislava. It would be within 137 miles of 4 international airports that handle 40 million passengers a year.
Harrah's senior vice-president of communications Jan Jones believes the region offers an enormous embryonic market with access to gamblers from Russia, Norway, Italy and Austria. While gambling is legal in many Eastern European countries, few large casino resorts have been approved there.
Harrah's is still negotiating the financial terms of its involvement with TriGranit, which owns and is developing projects in 7 countries in Central and Eastern Europe. It was closeness to countries as diverse as Russia, Britain, and Italy, while enjoying much more lax government control.
Harrah's Entertainment has signed a non-binding letter of intent with TriGranit, a Hungarian developer, to manage casinos and hotels that would be part of a $2.2 billion mixed development known as "Metropolis" outside of Bratislava, Slovakia.
Harrah's has made several preceding attempts to her foot in Eastern Europe, but so far has not been able to secure entry. A plan to partner with a Slovenian company to develop a casino there was uphold over last year.
“Under the plan, Harrah's would contribute less than $50 million to the project, there is still no guarantee the deal will go through. Harrah's involvement is dependent on TriGranit receiving the necessary governmental approvals to proceed with the development. Even if it succeeds, it could some time before the project breaks ground.” Harrah's senior vice-president of communications Jan Jones confirmed the report.
The “Metropolis” development plans covering a retail mall, adventure and water parks, a golf course and hotels and casinos. The project is slated to begin in 2010, and will take shape in phases over the following subsequent 5 years. Part of its first phase would be the openings of 3 hotels and a casino, slated for the first quarter of 2012.
Moreover, the “Metropolis” is planned for 74 acres outside Bratislava. It would be within 137 miles of 4 international airports that handle 40 million passengers a year.
Harrah's senior vice-president of communications Jan Jones believes the region offers an enormous embryonic market with access to gamblers from Russia, Norway, Italy and Austria. While gambling is legal in many Eastern European countries, few large casino resorts have been approved there.
Harrah's is still negotiating the financial terms of its involvement with TriGranit, which owns and is developing projects in 7 countries in Central and Eastern Europe. It was closeness to countries as diverse as Russia, Britain, and Italy, while enjoying much more lax government control.
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