Bond issue could delay casino construction further
A decision by investors to issue bonds, rather than take out a loan, to finance the construction of a €300 million casino and hotel near Hungary's border with Austria and Slovakia could delay the project even further, regional daily Kisalföld said on Wednesday. Tapping the market with the bonds will be cheaper than taking out a loan Kisalföld, but more time-consuming. The decision could delay the start of construction until after this summer, the paper said. The investors won a 20-year license to operate a big casino at the site in 2006. Eurovegas was originally expected to open in 2010, but construction was delayed due to the global financial and economic crisis. The investors have already paid a HUF 4 billion indemnity because of the delay.
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