Operator News
Uruguay – Time for Cipriani licence agreement running out
By Phil - 27 January 2022
The Uruguayan government has warned that it might not issue a casino licence for a casino in the Punta del Este amongst growing frustration over delays in the signing of the contract.
Lawmakers said that Giuseppe Cipriani should have already signed the contract for the new casino in the San Rafael hotel. In December the government announced that The Cipriani Group would sign the license for the new Casino in Punta del Este Casino in January 2022. Giuseppe Cipriani had been scheduled to sign the agreement In December but could not travel due to COVID-19.
After the extension Giuseppe Cipriani had agreed to sign the investment agreement on 14 January according to press.
However, the Ministry of Economy and Finance of Uruguay (MEF) again granted an extension, until the 28th of this month. The Minister of National Tourism, Tabaré Viera speaking after a trip with President Luis Lacalle Pou and other authorities from both the national and departmental governments said that the license would be revoked if the agreement was not signed this month.
“Already in December the contract should have been signed. There was a reasonable request because he was sick with Covid and was unable to do so. Now there are no further explanations for this request for an extension that went far beyond what the Government finally granted him as the last term,” said Viera. The minister said that if by January 28, the date until which the extension had been extended by the Ministry of Economy (MEF), “there is no signature, the concession will surely fall.”
The mayor of Maldonado, Enrique Antía, took a similar line saying that there would be no more extensions.
The San Rafael hotel in Punta del Este, has been closed since 2011, but was acquired by the Cipriani Group for more than US$40m in February 2018. The agreement encompasses the operation of a private casino for 20 years, which is conditional on the construction of a luxury hotel. The hotel property was acquired by the Cipriani Group for around US$40m in 2018.
