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Linked to the Ministry of Economy and Finance (MEF) in Uruguay, the General Directorate of Casinos (DGC) has approved a new casino to be constructed in Maldonado. Former Minister Azucena Arbeleche’s resolution authorizing the construction of the new gaming hall with a sizable investment of roughly $896,000 (about UYU 38 million), including taxes, finally settled the matter.
Strategy and Planning
Located only a couple of blocks from Maldonado’s downtown and the bus terminal, the Atlántico Shopping mall houses the new casino in a strategic location. The DGC says the site selection is meant to maximize the visitor and tourist flow by using its closeness to one of the city’s busier sites.
The project is part of a bigger complex covering more than just the construction of a casino. Already having a mall, the site is set for four more constructions which will turn it into a major commercial and entertainment hub very important for the city. The Uruguayan administration emphasized the special mix of elements present in this initiative that makes it a one-of-a-kind chance for the nation as well as for the city of Maldonado.
Project and Construction Details
One of today’s most popular types of gambling in modern casinos, the new casino will emphasize the use of slot machines. MEF projects the original investment to be repaid in at least two years, therefore underlining the government’s confidence in the viability and profitability of the initiative. Furthermore, the project was handed to MTA S.A. since it was the lowest bidder to construct the facility.
Leasing and Operating Costs
Two commercial spaces are rented under the Atlántico Shopping management contract for the casino. The first term of the agreement runs for five years, but there is a chance for automatic two-year renewal. The amount corresponding to the common costs of the project, UYU 90,000 per month (approximately USD 2,124), is the value of this lease.
By guaranteeing that the casino runs within a sustainable business model, this rental value shows the government’s dedication to the economic feasibility of the development. The selection of the shopping destination for the new casino also seeks to draw visitors and tourists using the current on-site facilities.
Additional Bids and ExpansionEconomic and Social Impact
The DGC is also in the run for the concession of other supporting services for the casino. Operation of a bar, restaurant, and pastry shop as well as surveillance and concierge services to maintain the safety and good running of the new location is among the facilities provided.
Operational of the casino depend on these services, which give a full experience for guests and guarantee the facility meets the government’s stringent quality and safety criteria. Including these services in the bid package shows the intention to make the new casino a regional point of leisure and attraction and the care to detail.
Economic and Social Impact
This new Maldonado casino, if installed, might have a big effect on the regional and local economy. Beside generating new employment opportunities both during construction and after the casino is operating, the starting nearly 900,000 dollar investment provides the city with a substantial injection of money.
Moreover, drawing visitors to the new shopping and entertainment center might stimulate the travel industry, hence directly aiding local businesses, eateries, and hotels. Proximity to the city center and the bus station also gives access to the casino, therefore the appealing choice for Maldonado inhabitants and holidaymakers in the area.
Source: YogoNet
