Uruguay – Conrad records high revenues due to tourist influxBy Phil - 1 September 2014
General Manager of the Conrad Punta del Este Resort and Casino Juan Eduardo Garcia has said that casino revenues are on the rise due to high tourist numbers.
In a speech during a business lunch held for executives and locals involved in the industry, he evaluated Enjoy’s first year as the casino operator. Putting the increased revenues down partly to the fact that tourist number were up by 19.4 percent in the second quarter he also said that revenues had increased each month in the second quarter for the time in four years.
The executive also noted that the largest number of tourists helped to raise the complex’s income, which grew by 19.4 percent in the quarter which had a positive impact on gaming with gross gaming revenue reporting an increase of 64.9 per cent.
In turn, Mr. Garcia said that high standards and innovation were key factors in the recent success of the casino and stressed that the “partnership” of both public and private enterprise working together was fundamental when it came to the development of the country’s tourist industry.
Enjoy, he said, is now on the path to being the leading casino chain in Latin America and is now amongst the top ten casino operators worldwide with the Conrad forming a vital cornerstone to this success. He said that the company will continue to ensure that the Conrad consolidates its leadership position as the best casino in the region.
The Conrad hotel and casino is one of the most popular and iconic casinos in Latin America and is one of the single largest employers in Uruguay. The casino and hotel has 542 slot machines, 75 gaming tables and 294 rooms and its casino licence was recently extended until 2036.
As reported last year the Uruguayan government approved a deal where the current operator of the Conrad hotel and casino in Uruguay switched from Baluma SA to Enjoy SA meaning that Enjoy took control over the Conrad. The deal was first announced in November 2012.
Under the agreement Caesars and Enjoy both cooperate on marketing and player development and in three to five years time Enjoy will be given the option to acquire the remaining stake in Baluma S.A.