Andy Vajna wins operating licence for Hungary’s 1st online casino

An interest of Hollywood movie producer Andy Vajna, turned government commissioner in charge of Hungary’s film industry has been granted the operating licence for Hungary’s first ever online casino by the National Tax and Customs Office (NAV). LVC Diamond Ltd. told state-owned news wire MTI on Tuesday that player registration will soon start on the website. MTI somehow forgot to mention the relationship between the company and Andrew G. Vajna.

The operating licence is valid until 31 December 2024, according to data published on the website of the NAV. MTI also reports that gamblers could pay with their plastics, pre-paid cards, bank transfers or even e-wallet, and will be able to sue 24/7 online customer services both in English and Hungarian.

Las Vegas Casino Group, has been operating five casinos in Budapest in the last two years. It was the first to receive concession from the National Economy Ministry in agreement with the National Development Ministry in 2014.

Las Vegas Casino Group posted HUF 14.34 billion revenue in 2015, when its after-tax profit amounted to HUF 4.1 bn.

The announcement wasn’t really a surprise, because the amended gambling law which came into effect in October 2015 stipulated that only those may operate casinos that have obtained a licence from the Hungarian state.

Andy Vajna is operating his casinos in a rather complex web of businesses. Las Vegas Casino Ltd. is owned by Luxembourg-based Las Vegas Casino s.á.r.l., which is owned by another Luxembourg-based company, AV Investments s.á.r.l. (AV aka Andy Vajna).

Although the casino website, www.vegas.hu is not yet fully functional, we’re already eagerly waiting for it’s official launch.