Hungarian Prime Minister Viktor Orban has extended one of his main supporters’ Budapest casino licenses until 2056. It was an unprecedented but entirely legal move.
Las Vegas Casino Group owns the casinos. However, the Diamond Gaming Casino manages it. The five casino licenses, which would earlier expire in 2024, have been extended.
Due to a change in Hungarian gaming law, the extensions did not require a tender, but rather a bidding process. The casinos involved are the Atrium at the Eurocenter, the Corvin on the Promenade, the Sofitel, and the Tropicana.
“We only learned about the decision from a reader’s letter, but we found it on the Gambling Authority’s page and there really are new licenses,” said Brückner Gergely and Eld Fruzsina, journalists at Hungarian news outlet Telex. The case will undoubtedly cause a political uproar. This concession will remove an important sector of the economy from the control of the next government.”