New licence holder to invest €26.5m in Dragonara casino

The Dragonara Casino will see an investment of €26.5 million over the next 10 years after a consortium led by Australian company Novomatic won the licence to operate it after a call for tenders.

The new company that will manage the Paceville-based casino, Dragonara Gaming, will fork out €12.8 million for the 10-year concession. It will also be pumping a further €9.2 million into restoring the building and €4.5 million to modernise the equipment.

Novomatic is a global gaming company and producer of high-tech gaming equipment.

Finance Minister Tonio Fenech, present for the signing of the agreement yesterday, expressed satisfaction that the operations were being handed over to Dragonara Gaming, because the company had vast experience with casinos and would be strengthening the casino's competitiveness.

It was important for Malta to be in a position to offer the best facilities in the gaming sector, because it would attract a specific kind of tourist, creating more economic activity within the area where the casino was located.

The consortium also includes the Pinnacle Gaming Group and the Bianchi Group.