October 13, 2009 / 3:08 PM / 10 years ago

Harrah's to launch casino resort in Slovakia

BRATISLAVA, Oct 13 (Reuters) - Harrah’s Entertainment, Inc. [HAMLEH.UL], one of the world’s largest casino operators, said it will build a 1.5 billion euro ($2.22 billion) gambling and hotel resort in Slovakia jointly with Hungary’s TriGranit. Harrah’s, the operator of 54 resorts, said on Tuesday it was still negotiating financial details with real-estate investment and development company TriGranit.

The project — known as “Metropolis” — would be located near the Slovak capital, Bratislava, and include a casino, five-star hotel, shopping mall and entertainment park.

Phased construction would start next year, Harrah’s said, adding it would operate the casino and hotel, with TriGranit operating the shopping mall and entertainment park.

TriGranit said last week a minimum of six banks would be involved in the financing of the project. [ID:nL8668136]

Harrah’s Managing Director of Development, Andrew Tottenham, told a press conference in Bratislava, this project could be followed by others in Europe, but not on the same scale.

It was hoped the finished “Metropolis” would attract 5 million new tourists a year from across central Europe. It is expected to create 28,000 long-term and temporary jobs. (Reporting by Martin Santa; Editing by Andrew Macdonald) ($1=.6746 Euro)

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