Eastern Europe May Be Next Target for Casino Gambling Operators
Harrah's Entertainment, the world's largest casino gambling operator, is considering taking over casinos in Slovakia, according to a report by the Wall Street Journal. If the move occurs, it would only be the latest spur to gaming growth in the eastern part of Europe.
The paper says Harrah's has a non-binding agreement in place with Hungarian development company TriGranit to operate casinos, hotels, and resorts in what is projected as a $2 billion project outside Bratislava. Harrah's senior vice-president of communications Jan Jones confirmed the report.
Earlier this summer, Seminole Hard Rock Entertainment announced plans to build the largest casino in Europe between Budapest and Vienna. And Russian casino owners, forced to abandon operations in their home country when a complete gambling ban went into effect, have also relocated or considered doing so in Eastern European nations.
"Since all of Russia gambling closed down without the new gambling districts opening, there's a belief that there's real opportunity to build new projects in surrounding countries," Jones told the Journal.
Further, Eastern Europe is seen to have several advantages. It has proximity to countries as diverse as Russia, Britain, and Italy, while enjoying much more lax government control.
Harrah's insiders say the deal with TriGranit represents a means to continue growing the gambling operator's brand without investing major dollars in construction of new casinos, a factor for the debt-ridden company.
