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First Albanian Casino to Open in October

12 September 2005

ALBANIA –- As reported by the Albanian Economy News: "Hyatt Regency Hotels announced that it intends to open its casino in Tirana in October, upon payment of the Lek 1 billion (€8 million) for the license issued by the Albanian Government in January.

"According to the business plan introduced by the company in Athens, this venture foresees an €14 million total investment, while George Galanakis, chief executive officers, believes that the company will get its investment back in only two and half years.

"The new casino is due to be established in the center of Tirana occupying a total area of 1700 SQM.

"The Hyatt casino is only the first out of five casino licenses which will be made available by the Albanian government. The government intends to give out four other casino licenses. The other casinos are projected to open in Saranda, Vlora, Durrës and Velipojë, all tourist locations placed along the seacoast…"

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