Supplier News
Paraguay – Hard Rock heralded a ‘breakthrough’ for Paraguay by Minister
By Phil - 9 February 2015
Mr Simon Falic, an American businessman and member of a group of investors involved in setting up a Hard Rock Hotel and Casino in Paraguay, has met with the President Horacio Cartes to update him on its progress.
After the meeting the President along with Mr. Falic announced the construction of large-scale complex in the east of the country, which will have an investment of between U.S$S70m and U.S$80m million and could begin before the end of the year.
Minister of Industry and Trade, Gustavo Leite, who also attended the meeting, highlighted the progress already made so far stating that it was a “breakthrough” for Paraguay as it proved that Paraguay had met with a number of requirements as set out by the company.
“This is a great achievement given the fact that a business such as Hard Rock, Hotel and Casino can not go to a place without having the peace of mind that that the country where it is going to establish itself has certain gaming rules already in place. It is also good for Paraguay,” he said.
“God willing construction will begin before the end of the year and we will work for that to happen. There is still a lot of paperwork, but progress is being made and I think the most important requirements have already been met. It will be a great tourist resort, with a casino, 250 rooms and ample parking space. Parking space is something that is very important because it will be a project that will mark a before and after when it comes to Cuidad del Este,” he said.
The announcement that Hard Rock International was planning to install a casino and hotel in the city of Ciudad del Este in Paraguay first came in October last year. The hotel will have 250 rooms while the casino will house 500 slot machines and 30 gaming tables. The decision to launch in Paraguay was, according to local press reports at the time, made after a wide sweeping study was carried out by a team of local specialists who provided advice to the company on marketing, strategy as well as financial planning, government oversight and local gaming laws.
