Argentina – Casino Club buys 50 per cent of TrileniumBy Phil - 28 January 2014
Cristóbal López, whose company Casino Club has the right to run the slot machines in the racino in downtown Buenos Aires and has a significant share of the floating casinos moored permanently to the city harbour, has now acquired 50 per cent shares of the Trilenium casino located in Buenos Aires Province.
Located in Tigre, a popular local weekend getaway and tourist destination, the casino is one of the largest in the region. As well as offering live entertainment the casino has 800 slot machines and 74 gaming tables located over three floors. The deal was made after Mr López bought a 50 per cent stake in the company in return for US$108m which was previously held by the Comercial Society of La Plata (Sociedad Comercial del Plata) belonging to the Soldati Group. The other half of the shares of Trilenium remain under the control of Argentine casino company The Boldt Group which also runs gaming properties in Santa Fe, Mar del Plata and Miramar.
The move means that Cristóbal López, who has close ties with the present Cristina Kirchner administration and the mayor of the province of Buenos Aires, Daniel Scioli has further consolidated his position as leader in the local market. Crucially, according to the terms of the casino’s licence no other competing casino or gaming operation can be built within 150km of the Tigre casino.
There are currently 46 bingo halls which operate in the province. Bingo halls in Argentina all house slot machines and in many cases can be large scale. Casino Club could now as a result build new bingo halls in the most affluent parts of the province of Buenos Aires. Furthermore, local new sources also state that Scioli has guaranteed that the Trilenium licence will be extended for several years.