internationalcasinoreview News


hitormiss SLOVENIA


Slovenia’s largest casino operator, Hit, has received confirmation from Mikhail Šcetinin, the Deputy Gover- nor of the Altai region of Russia, of its continued col- laboration in the design and development of the Sibirskaya Moneta (Siberian Coin) casino project. Altai, a dramatically


remote region situated in part of Siberia bordering north-eastern Kazakhstan, is one of the four areas in Russia where gambling may legally take place after it was banned everywhere else in July 2009. Hit’s president Dr Drago


Podobnik, signed a letter of intent with the Altai regional government last August,


Vockerode project hits the buffers The plan to turn an old power station in Saxony Anhalt in Germany into a casino, hotel, shopping and entertainment complex has been put on hold after an investor pulled out. The developer, Cyprus-based Sybil Group, which bought the state’s three casinos a year ago, has said it is already in talks with new investors. The project will require E300m for completion.


EUROPE CENTRAL, EAST & CIS


Hit confirmed in Altai casino development


The operator of one of Europe’s largest casinos, Hit, has agreed with the government of the Altai region to help it develop a casino industry. The region is one of four in Russia that is legally allowed to offer gambling games.


which was followed by a meeting in person in Novem- ber in the course of an eco- nomic delegation visit. The confirmation letter received by Hit in December agrees to the proposals for co-opera- tion made by Hit, which is willing to offer all the neces- sary information and supply any missing technical support in order to imple- ment the project. No mention has been made of any quid pro quo. Podobnik has written to


the Slovenian president Dr Danilo Türk, who was also involved in the negotiations, saying: “The communication was received with great honour, especially in respect of the professionalism of Hit and all the effort it takes to bring about such an impor-


Casino voted for in Nowy Targ


longwait POLAND


The authorities of Nowy Targ voted 16 to three in January to allow a casino to operate in the town in the far south of Poland. The approval of the council is an essential require- ment in the stringent and long- winded application process for a casino. Vast amounts of documentation now have to be sent by the potential oper- ator to the ministry of finance for approval, which will take a minimum of six months. No


casino is expected to open for at least a year.


The casino would be located in a hotel in the town, which is hoping to boost its tourist profile. Before the law changed at the start of 2010, there was a casino in a hotel in the nearby town of Zakopane. Under the current legislation, the number of casinos is limited by population and region. Three now operate in the regional capital Krakow, leaving another two to gain licences.


10 February 2011 • europecentraleast&cisnews


tant future collaboration for the company.” Slowly there seems to be a


growing amount of interest in the project, even if little of it comes in concrete form: Šcetinin told reporters at real estate exhibition in Hong Kong recently that local busi- nessman Albert Hung was considering involvement, as were unnamed firms from South Korea and the US. When the gambling zones


were announced, the Altai region was thought to be the least likely to be able to attract enough interest from investors given the chal- lenges. The proposed zone is 100km south of Biisk airport, the closest, and over 300km from Bernaul airport -the closest international airport. A highway is believed to have


An artist’s impression of the how the Sibirskaya Moneta project could look when completed. Dr Drago Podobnik (left), president of Hit


been built at least near the site, which will also need power and utilities - however, it would be able to share these with the neigh- bouring Biryuzovaya Katun special tourist resort. The scale of the proposed


development is huge. Total investment from both gov- ernment and private compa- nies could reach $1bn (E770m) The site is planned


to occupy 23sq km and be home to 15 casinos plus ten other gambling and recre- ational complexes, 30 hotels to accommodate 30,000 people plus administrative offices, a sports and park centre, a complex for moun- tain sports and entertain- ment, as well as golf courses and an open-air cinema. The authorities expect to


be able to attract not only Russian tourists but also those from neighbouring countries Kazakhstan and China, creating a steady flow of visitors.


Another casino proposed as national GGR hits decade low


catchup ITALY


The pressure for a casino law in Italy could be growing: yet another legislator, Senator Franco Bevilacqua, has laid a draft law before parliament to legalise a casino, this time in the southern town of Tropea (renowned otherwise for onions). Under the legislative


process, the bill must be evaluated by a series of committees, including Justice, Finance, Industry and Regions before being discussed on the floor. It is the 28th bill relating to casinos to be put forward:


none of the other 27, some of which have been in the system since the start of the current parliament two years ago, has managed even to begin the process. Although there was


relatively swift action in bringing VLTs to the Italian market, no such decisiveness has characterised attempts to modernise the casino sector, which operates in a legislative lacuna of local Mussolini-era derogations from a general prohibition. As far back as 2001, the Consulta, Italy’s supreme court, referred to the “increasingly serious problem of the legal


situation concerning casinos operating in this country”. It said: “It is quite clear that legislative action has become urgent as the regulatory system is outdated and inconsistent in several respects from the current constitutional framework.” As a result of competition from VLTs and the poor economy, the four casinos that are operating (all in the north) last year generated the lowest combined revenues in ten years, reaching only E442.5m. The figure has been declining ever since 2007, however, the peak of the decade was 2004


when the casinos brought in E557.3m. The market share has seen some movement as well: still well ahead is Casinò di Venezia with 35.5 per cent, down from 36.2 per cent last year. Campione d’Italia dropped from 25.9 per cent to 25.6 per cent and Casinò di Sanremo, the smallest, from 17.2 per cent to 16.6 per cent. Only Casinò de la Vallée in Saint-Vincent increased it share, up to 22.2 per cent from 20.7 per cent, thanks to its 4.1 per cent increase in revenues - a full report of its results can be found on p86.


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