Gran Scala promotes a gambling law that stops speculation – ISA-GUIDE.de

Gran Scala promotes a gambling law that stops speculation

The bill of high capacity leisure centres, created in response to the leisure and gambling complex Gran Scala that International Leasure Development (ILD) aims to install in Ontiñena (Huesca), will demand promoters to this kind of developments to have a share capital of 10 million euros and hand in a guarantee.

The bill will specially control promoters to remain in the project up to the end and not just to generate speculative trading. On top of a minimum size, it will also establish the number of employments and hotel capacity that will have to be complied by all those who wish to invoke this law, according to El Periódico de Aragón.

The text will be approved tomorrow by the Government Council. The requirements established may change during the parliamentary processing, but sets a series of guarantees, among them, the determination of the share capital that must have the promoters of a high-capacity leisure center, that the text sets in 10 million euros initially, and the demand that they have to deposit a guarantee. The share capital of ILD was much inferior to this quantity, although the company announced last year that it would expand it.

Another requirement is to have, at least, 1,000 hectares, generate 3,000 jobs and offer 8,000 hotel vacancies. The law will regulate several things, from the timetable (that will be specific for these facilities) up to the fact that gambling machines have to be set in two languages.

This law is necessary for ILD to continue with the aim to build Gran Scala, after the signing of many purchase options of land in Ontiñena for around a thousand hectares.