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March 1, 2021
BUSINESS

Constanta Casino upgrading needs EUR 12 M

The famous Casino building in the seaside city of Constanta, now derelict, could be revamped with money from the Government, and it would need some EUR 12 million in investment, according to Constanta mayor Radu Mazare, quoted by Mediafax. The Casino will be again handed over to the Ministry for Regional Development to revamp it, and then the municipality of Constanta will decide what to use it for, depending what the Constanta inhabitants also want: a museum, a wedding place or a casino, according to the mayor. This came as the Romanian PM Ponta recently said there are money to invest for local authorities. In Constanta, a sports hall and a swimming pool, as well as the coastal road and a ski lift are in plan, all needing money from the Government. In 2011, Radu Mazare was planning to sell the Constanta Casino, after the investor who had leased this building four years ago – Queen Investments SRL – canceled the concession contract. The contract between the City Hall in Constanta and Queen Investments SRL, completed in 2007, featured a concession period of 49 years, which could have been extended. The Constanta municipality was entitled to receive EUR 140,000 annually. The casino was never opened after the contract was signed. The Constanta Casino is one of the most famous historical monuments in Romania. The building was erected with public money between 1903 and1910.

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