Orban Allies Win 35-Year Casino Contracts Before Elections2 min read

Orban Allies Win 35-Year Casino Contracts Before Elections

In a breakthrough for the casinos in Budapest, the Hungarian Prime Minister Viktor Orban has extended the license of its allies by a period of 35-years. The casinos in Budapest can now be operated without any restriction till the year 2056. This will result in smoother operations by the casinos to provide a comprehensive platform for the gamblers.

Budapest is the gambling hub of Hungary. Citizens from all over the country visit the casinos and try their luck in the capital city. Casinos in Budapest are also major tourist attraction destinations. Tourists also visit casinos to gamble and earn money. With the extension of licenses, we can expect more responses from the people soon.

Orban Allies Win 35-Year Casino Contracts
Orban Allies Win 35-Year Casino Contracts

Orban’s Decision

Orban is going to face the people’s test for his fourth consecutive election in 2022. Orban has successfully won the past three elections and will be looking forward to his fourth term as the Prime Minister of Hungary. He decided against extending his allies’ Budapest casinos till 2056. The decision comes ahead of the hot contest at the parliamentary elections.

Orban Allies Win 35-Year Casino Contracts
Orban Allies Win 35-Year Casino Contracts

Why was the license extended?

The stiff resistance from the opposition for the forthcoming elections might be a prominent reason. The administrative reason behind the decision might be the economic development behind it. The extension will result in the generation of extra 3 Billion forints over the period of the next three years. This will see an increase in the government’s revenue.

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Orban Allies Win 35-Year Casino Contracts
Orban Allies Win 35-Year Casino Contracts

Till when was the license valid?

The licenses of the five Budapest casino allies of Prime Minister Orban were valid till the year 2024. Further, the casinos would have to renew their licenses in consideration of the government norms and regulations. This is truly a major breakthrough for the casinos as they will get rid of all the legal proceedings of renewal.

How is Orban associated with the casinos?

Orban Allies Win 35-Year Casino Contracts
Orban Allies Win 35-Year Casino Contracts

The casinos in Budapest are owned by LVC Diamond. LVC Diamond is officially registered with the gaming authority. LVC Diamond is owned by Istvan Garansci who is a real estate and construction tycoon. It is believed that Garansci is a close asset of Prime Minister Orban and Orban owns few shares in the name of Garansci.

Is it legally binding?

The European Union had ordered a commission to investigate Orban’s association with the casinos. Obviously, it is not legal for the Prime Minister to indulge in the gambling industry. However, a major decision just a year before the election might grab controversy.

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