(HUNGARYNEWSWIRE.COM, July 07, 2009 ) Hungary is set to be propelled onto the world stage with news that Hard Rock International has plans to build Europe’s largest casino and hotel development there – signaling another positive step for the country, which is hopeful of joining the Eurozone within the next few years…
The American giant, Hard Rock International, owners of the famous Hard Rock Café chain, is serious about branching out into Hungary – they have already purchased the land, close to the Austrian and Slovakian border.
With a view to making Hungary the unlikely gambling capital of Europe, the company plans to inject a whopping £4.3 billion into the ‘Hard Rock Hotel and Casino Hungary’ project and completion is scheduled for 2012.
The Las Vegas- style complex will be built in the town of Bezenye, 160 kilometers from Budapest, capital of Hungary, and 80 kilometers from Vienna, capital of Austria.
With millions of people expected to pour into London for the 2012 Olympics, Hungary is hoping to benefit from higher than ever tourist numbers entering Europe.
Hard Rock International has already obtained permission from the Hungarian Government to operate up to five casinos, with an unlimited number of gaming tables, for at least twenty years.
This injection of foreign money and glamour is expected to put Hungary firmly on the map, attracting visitors and helping to progress the country’s Eurozone bid.
Interest from international property investors is also expected to pick up, as they see the potential of buy to lets, benefiting from a strong rental return from increased visitor numbers.
Hard Rock Chairman Jim Allen expected the gambling centre to yield revenues totalling £1.7 billion in 10 years.
For more information on properties in Hungary and the market in general, please visit http://hungary.themovechannel.com/
Notes to editors:
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