Hungary Targets Gambling Regulator Over Casino License Scandal

Hungary is preparing to dismantle the regulatory body in charge of gambling, tobacco, and state concessions. This decision follows a major controversy involving a casino license extension that stretches until the year 2061. The government claims this deal was pushed through without a public tender and primarily served private interests.

Prime Minister Viktor Orban announced that new legislation is on the way to abolish the authority entirely. The move comes just six weeks after the regulator granted the long term contract, sparking concerns about transparency and fair competition within the sector.

The regulatory body stated that it intends to cooperate with the government during this transition. Investors are now watching to see how this shakeup impacts existing concession agreements and whether future gambling licenses will face stricter oversight moving forward.