HUF 2.1 billion in casino revenue planned
The 2014 budget bill before parliament targets HUF 2.1 billion in revenue from concession fees from casinos. The figure is up from this year because it included the fees paid from nine new category-II casinos to be opened in Hungary next year, according to business daily Világgazdaság.
Three category-II casinos are currently operating in Hungary: Budapest’s Tropicana and Las Vegas casinos and the Casino Sopron.
The bill sets the minimum annual concession fee for operating category-II casinos in Hungary in 2014 at HUF 377 million for those in Budapest or Pest County, and HUF 54 million for those located elsewhere in the country, raising the fees in line with the forecast inflation rate of 2.4%.
The budget bill projects revenue from gaming taxes to drop to HUF 33 billion from HUF 47 billion projected for this year. According to the bill, online gaming companies are appearing on the Hungarian gambling market with a delay and the market restructured with legislation banning slot machines and table games from arcades, cafes and pubs from October 2012; casinos operating in a concession are exempt from the ban.
– David Landry contributed to this report
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.