Operator News
Argentina – Rumours grow over large scale casino on Necochea’s Atlantic Coast
By Phil - 15 March 2018
Rumours which have been circulating around a proposal to the municipal government of Necochea to build a resort and casino are growing with word that a private investor may well have come forward.
The new plan could save the casino in the city, which is scheduled for closure after the governor of the province of Buenos Aires María Eugenia Vidal decided not to include the casino in the new tender process earlier this year.
According to news portal Totalnews, Alaisa Distribuidora SA, which acquired 51 per cent of Argentina’s main dairy company SanCor in return for US$130m, could build an international five-star hotel including a conference room, event room, spa, thermal springs and sauna in Necochea. The company intends to acquire the rest of SanCor and plans to make a number of significant investments in Argentina according to local press. This in turn has sparked the interest of the President’s office and government officials are already in talks with the city government according to local reports. President Mauricio Macri’s market-friendly reforms are increasing foreign investment now that he has resolved a fifteen-year default and removed capital controls and the government will seek to capitalise on further investment in the area. The Spanish group operates mainly as a distributor of food products, mainly in Spain, Mexico and China.
In the note sent to the Intendancy the company said that it intended to refurbish the casino and put it back into operation. The new casino and hotel could mean an initial investment of up to $100m.
In November last year, The Mayor of Necochea Facundo López questioned the government’s decision to close the single casino in the city. Facundo López said that it would “leave seventy families out on the street.” López also warned of the negative impact the closure would have on the local tourism industry.
Last year the Lottery and Casinos Institute decided to definitively close the casino after it was found to be consistently running at a loss generating an income of just over $3.5m while costing $39.5m a year to maintain. In January Vidal announced that she would cancel the casino licences of Mar de Ajó, Valeria del Mar and Necochea, as well as the bingo hall in the city of Temperley in order to reduce gaming but would renew seven casino licences. She will be key when it comes to deciding if the new project goes ahead.
Necochea is located in the southwest of Buenos Aires Province on the Atlantic coast. The Complejo Casino is one of the city’s landmarks. Constructed in 1973 and located on the beachfront the building also houses cafes, a shopping arcade, a bowling alley, a bar, a billiard room, a skating rink and a casino. The casino, however, was closed down by the Provincial Institute of Lotteries and Casinos (IPLyC) and was temporarily housed in a nearby theatre in 2015 for urgent repairs as the building posed a safety risk. This was after two tourists fell from the railing of a balcony. It was the third time the casino had been shut down having also been shut down in 1988 and 1994.
