Casinos Austria’s 60-year casino monopoly in Austria has come to an end after a German-Swiss consortium won its casino license bid in the country’s capital of Vienna.
According to reports coming out of Austrian media, the Gauselmann Group and Stadtcasino Baden Group, the latter of which is the operator of Grand Casino Baden in Zurich and Casino Davos in Switzerland, beat out Century Casinos for one of two additional casino concessions. The Austria Ministry of Finance announced its decision more than a year after bidding began.
Gauselmann and the Baden Group plan to develop the Grand Casino Vienna in the Palais Schwarzenberg, one of Vienna’s most historical buildings. The joint venture has earmarked €100 million for the development, which will feature 28 gaming tables, 290 slot machines, a central park next to Palais Schwarzenberg, as well as a boutique hotel on one wing of the building.
“We are committed to create a casino of international appeal that Vienna merits,” Detlef Brose, CEO of Stadtcasino Baden AG, said in a statement. “A premium casino is planned, one that can compete with international renowned top locations such as Monte Carlo. We want to offer our guests unparalleled gaming and entertainment experience, combined with a successful mix of restaurants, bars and events.”
Development is expected to begin immediately with a timeline for completion set for at least 12 months. That gives the Baden Group and Gauselmann enough time to hit its intended target of beginning operations in a year, at which time it will become the second casino in a country that has only had for the better part of 60 years.
Welcome to the show, Grand Casino Vienna.
