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Argentina – Río Negro approves large scale casino and extends existing licences

By - 20 décembre 2017

The government of the province of Río Negro has presented the final agreement with local operator Crown to extend its licence agreement with seven gambling halls in the province.

In return, the company will build a hotel casino complex called the Paseo Sol del Río in capital Viedma. The licence will run until 2042.

Crown investira environ 450 millions de dollars dans le nouveau complexe qui comprendra un casino, un hôtel de 54 chambres, une aire de restauration, un centre de congrès pouvant accueillir plus de 500 personnes, un centre commercial et un casino, qui selon les architectes du nouvel hôtel , n'occupera que 6 pour cent du nouveau complexe. En échange, Crown a demandé et obtenu une prolongation de 10 ans de ses licences pour ses opérations à Las Grutas, El Cóndor, Viedma, Cipolletti, Roca, Choele Choel et Catriel. Les travaux de construction devraient être achevés d’ici trois ans.

Crown will sign a contract with local football club Sol de Mayo for the transfer of two hectares of waterfront land. Members of the club approved the offer in May 2016. In return, the club will receive a $114m facelift including work on the football grounds, the swimming pool as well as other infrastructure works (which will be part of the total $450m budget for the new complex). The current casino in the provincial capital has until now operated in a rented property.

Gaming in the province continues to play an ever-important role in the local economy and earlier this year the governor of Rio Negro, Alberto Weretilneck announced that he had signed an agreement with another local gaming company Entretenimientos Patagonia S.A to extend the licence of gaming halls in the cities of Bariloche, El Bolson and Ingeniero Jacobacci for another 15 years. In addition to an increase in the monthly fee, the operator also agreed to build a new bus terminal in the city of Bariloche as well as fund the building of other public works.

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