Guyana – Cogit Group secures permits for Guyana casinoBy Phil - 24 August 2020
A building permit has now been issued for the Cogit group’s future Cayenne casino, which is being touted as the ‘biggest tourism project of the last 20 years in Guyana.’
The permits for the future casino-theater in Cayenne (Guyana) were issued by the municipality on July 23. Cogit hopes to open a temporary facility in 2021. The 18-year concession contract was signed on August 28, 2019 by Marie-Laure Phiner Horth, mayor of the town and Bruno Gendrot, head of the Casinos branch of Cogit. The delegate must still present a file to the advisory committee for casinos before starting work on the project. Once approved by the Minister of the Interior, a provisional establishment should see the light of day during the first quarter of 2021 on the one and a half hectare land made available to it by the municipality at the entrance to the Horth cities and Grant, route de Montalbo. This temporary casino will offer 75 slot machines, electronic English roulette and two black jack tables.
The final casino should be completed in 2023. It will cover 2,100 m2 divided into three levels. On the ground floor, there will be a theater with 460 seats or 800 standing. This multipurpose room will be used to host all kinds of events. On the first floor, the games room will feature 150 slot machines, electronic English roulette and five traditional table games and a bar. An 80-seat restaurant will be installed on the top floor, on the roof top. The planned investment is €30m. Around 100 people will be employed as soon as the temporary casino opens with 300 employed by the permanent casino. The turnover should be €6m for each of the first two years, then €11m thereafter and €26m at the end of the concession. For the municipality this means €200,000 in annual income with the provisional casino and from €1.2m to €2.6m thereafter. From 2023, the definitive casino, will bring €2.6m tax revenues per year to the city. “This is quite simply the biggest tourism project of the last twenty years in Guyana,” said Mayor Marie-Laure Phiner-Horth.