Harrah's Plans For Two Casino Resorts in Spain and Slovenia
29 November 2005
The world largest casino operator, Harrah's Entertainment Inc, will be taking on two new casino-resort projects in Spain and Slovenia. According to a report by the Wall Street Journal, these two casino projects will total $1.37 billion in value. Harrah's will announce its agreement with a Spanish development company this week regarding the construction of a Caesars-brand casino resort in Ciudad Real, Spain.
Harrah's will hold a majority stake in the project, which will include a 850-room hotel, a casino, a convention center, a 3,000-seat theater and a large spa. Harrah's has also begun talks with a Slovenian company in order to develop a casino in Nova Gorica, near the Italian border.
Construction for the casino resort in Ciudad Real will begin next year and the casino should open by 2008. In order for the Slovenian casino project to succeed, the Slovenian government must change existing laws that restrict foreign investment in such projects to just 20 percent.
Source: Authorized Online Casinos News Staff
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