Casinos Austria’s 60-year monopoly in its home country has come to an end after a German-Swiss consortium won a license to open a casino in the capital of Vienna.
The Austria Ministry of Finance recently awarded Grand Casino Wien one of Vienna’s two new casino concessions. An international joint venture led by Stadtcasino Baden Group, operator of Grand Casino Baden near Zurich and Casino Davos in Switzerland, Grand Casino Wien with its German partner Gauselmann Group will develop an upscale casino and entertainment project in the historical Baroque-style Palais Schwarzenberg.
With a renovation cost of $137 million, the Grand Casino Vienna will offer 290 slot machines and 28 table games, with exclusive gaming tables in the palace’s elegant ceremonial and representation rooms. The venue also will feature spacious bars, lounges and smoking areas, plus a multi-function entertainment room. In addition, the Schwarzenberg family foundation, partner of Grand Casino Vienna, plans to open a boutique hotel in one wing. An underground parking facility will hold more than 200 vehicles.
Detlef Brose, chief executive officer of Stadtcasino Baden AG, said, “We are more than happy about this decision but at the same time fully aware that it is associated with a large degree of responsibility. We are committed to create a casino of international appeal that Vienna merits. We want to offer our guests an unparalleled gaming and entertainment experience, combined with a successful mix of restaurants, bars and events. Beyond that Grand Casino Vienna will also adopt a leading approach in responsible gaming, gained on our home market in Switzerland for more than a decade.”
Grand Casino Wien primarily will target local customers as well as players from Asia, Russia and the Middle East.