The gigantic entertainment project was started by Austrian construction tycoon Hans Asamer, who owns the 330 hectare area, which is only seven kilometers from the Austrian and Slovakian borders of Hungary.

The Hungarian government has issued a building permit for the project, referred to as Euro-Vegas in the Hungarian press, as it is expected to create 8,000 new jobs in the region. In the meantime, the project has received an official environmental permit, as well. Construction of the shopping mall and the fun park, which will be owned by Austrian investor Alexander Finster, will commence in the fall of 2005. Building of the casino and gambling facilities will start next year.

The project was originally started by Michael Jackson’s father, Joe, who was later replaced by John F. Groom, president of the largest gaming and hotel complex in Las Vegas. The project still has to obtain a state concession for operating a casino.