Abandoned Slovak Mega-Casino Project Links to Disgraced Businessman

BRATISLAVA – A colossal, €1.5 billion entertainment complex envisioned for the outskirts of Bratislava has remained a pipe dream for over a decade, but recent changes in land ownership have brought renewed scrutiny to the project and its connections to a controversial figure in Slovak business.

Originally dubbed “Metropolis,” the planned development promised a sprawling resort featuring a massive casino, hotels, a shopping center, an aquapark, and a conference center – a project intended to reshape the region and inject significant economic stimulus into Slovakia. The scale was ambitious: 1.12 million square meters of development, with a 27,000 square meter casino intended to be one of the largest in Europe.

A Project Born of Economic Crisis

The project first surfaced in 2009, as Slovakia grappled with the fallout of the global financial crisis. Developer TriGranit, already known for shopping centers like Polus and Lakeside Park, pitched Metropolis as a solution – a major investment capable of generating an estimated €600 million annually for the state budget and creating tens of thousands of jobs. Developer estimates projected 9,000 direct jobs and another 20,000 indirectly.

The scale of the potential investment garnered high-level political support. Then-Finance Minister Ján Počiatek publicly endorsed the project, calling it “one of the few investments of this type and scale in Europe” and “among the largest in Slovak history.” The government even considered amending casino laws to accommodate the project, potentially creating a “super-license” for a development of Metropolis’s size.

The Rise of Koruna Finance and Gustáv Laca

However, Metropolis stalled, remaining on paper despite the initial fanfare. Now, the land earmarked for the complex has a new owner: Koruna Finance, a company linked to Gustáv Laca, a businessman whose name is synonymous with scandal in Slovakia.

Laca gained notoriety through the controversial sale of the Voderady outlet center – a deal dubbed “slayáda” (a play on words suggesting a highly advantageous sale) – where the state sold the property under questionable circumstances. His involvement in the Metropolis land acquisition raises concerns about the future of the project and potential conflicts of interest.

“The fact that Laca’s group now controls the land is deeply troubling,” says economist Vladimír Baláž. “It suggests that the project may not be about economic development, but rather about speculative land deals and potentially illicit enrichment.”

Slovakia’s Casino Landscape and Foreign Investment

Slovakia’s casino industry, while relatively small compared to other European nations, has been a subject of ongoing debate regarding regulation and potential links to organized crime. According to data from the Slovak Ministry of Finance, there are currently around 25 casinos operating legally within the country. The potential arrival of a mega-casino like Metropolis would have dramatically altered the landscape, potentially attracting significant foreign investment but also raising concerns about money laundering and other illicit activities.

The stalled Metropolis project serves as a cautionary tale about the risks of large-scale developments, the importance of transparency in government dealings, and the potential for corruption to derail economic progress. The involvement of Gustáv Laca adds another layer of complexity to the story, raising questions about whether the dream of Metropolis will ever be realized – and, if it is, who will truly benefit.

Visualization of the Metropolis project. (Source: TriGranit)