Business
Plaza consortium awarded majo
Plaza consortium awarded majo.
About this update from Plaza Centers N.v.
[{"type":"text","content":"\n RNS Number : 2460V Plaza Centers N.V. 27 May 2008 \n \n\n\n27 May 2008 \n\nPLAZA CENTERS N.V. \n\nPlaza CONSORTIUM awarded first ever Major casino licence \nFOR Mega EUROPEAN LEISURE AND ENTERTAINMENT RESORT in HUNGARY \n\n- Winning of licence enables Plaza to commence circa €1.5 billion Dream Island Project -\n\nPlaza Centers N.V. ('Plaza' / 'Company'), a leading emerging markets property developer, today announces that the Consortium formed by the shareholders of Dream Island, in which it holds a 30% stake, has won, via a competitive tender, the first ever major casino licence to be awarded in Hungary for its planned circa €1.5 billion entertainment and mixed use Dream Island development in central Budapest.\n\nThe Consortium comprises Plaza, CP Holdings Ltd., a member of the group of companies controlled by Sir Bernard Schrier and the owner of the Danubius group of hotels (30% direct interest), MKB Bank, a leading Hungarian commercial bank which is a subsidiary of the German Bayerische Landesbank (30% indirect interest), and a company controlled by the managing director of the Consortium (10% direct interest). \n\nThe granting of this licence will enable Plaza to commence construction of this major mixed use project. Totalling over 350,000 sqm of gross built area, the scheme will include approximately 3,000 hotel rooms in several hotels of different categories as well as approximately 1,000 leisure apartments, a convention centre accommodating 3,500 delegates, a 1,500 seat opera house, a 3,500 seat multi-purpose theatre, a marina with an anchorage for 300 vessels, a shopping and entertainment centre including a prestigious 'Designer avenue', a Roman cultural museum, and parking facilities for approximately 5,500 vehicles, as well as the casino of 40,000 sqm. It is located on the southern end of Obuda Island in the Danube River in central Budapest. \n\nThe exclusive casino licence has been granted to Plaza and its Consortium partners for 20 years from the date of opening of the casino, with a ten year extension ...