August 29 (SeeNews) - Israeli-owned emerging markets casino operator Queenco Leisure International plans to enter EU newcomer Bulgaria by launching operations in the capital Sofia and the Black Sea city of Varna, a press relations officer for the company said on Wednesday.
The company plans to open a casino in Sofia and a slot machine hall in Varna and has already purchased a theatre in Sofia and a cinema in Varna to provide sites for the developments, David Roach, a press relations officer for Queenco Leisure International, told SeeNews.
Roach declined to provide investment figures.
“It [Sofia] has many cultural tourist attractions, as well as a lively nightlife. Varna is […] the third largest city in Bulgaria and 61% of the city’s revenue derives from trade and tourism, with tourism of foremost importance to Queenco,” Roach said, adding that the country’s EU accession was one of the reasons for Queenco to enter the country.
Bulgaria joined the EU in January.
“Varna [...] is also Bulgaria’s only international cruise destination,” he added.
Bulgaria’s growing tourist industry generates about 10% of the country’s gross domestic product and helps offset its rising current account gap.
Queenco Leisure plans to start developing the projects soon and to open them in one or two years, a source close to the company who declined to be named told SeeNews.
Queenco Leisure, which is listed on the London Stock Exchange, operates two of Greece's nine licensed casinos and Casino Palace in Romania.
“The company is also investigating other opportunities in Bulgaria which may lead to further projects [...] in the near future,” Roach said but did not elaborate.
Queenco Leisure International (www.queencoleisure.com) has said it plans to further expand also in Romania, which also joined the EU in January, and Cambodia.