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Hungary May Help Casino Investors

31 May 2005

HUNGARY – As reported by the Hungary Pestiside: "The government wants to help an investment group build a "small Hungarian Las Vegas" in Bezenye, Magyar Hírlap reports today. It seems that the unidentified punters somehow convinced the ministry of finance to join their game, and the ministry is suggesting that Parliament change the laws on gambling so that the continent's largest casino complex can be built in Bezenye.

"…Currently, there are no laws or regulations covering large casino complexes in Hungary.

"…While Hungary's mini-casinos currently pay a 30% 'game tax,' the Hungo Vegas proposal offers a different solution. The more money the casino makes, the less tax it would have to pay: 30% for the first Ft 5 billion in earnings, and above that Ft 1.5 billion and 25% of the remaining amount. And if the house makes more that Ft 10 billion, the tax is Ft 2.75 billion and 10% of any addition profit…"

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