Ecuadorian casinos will have one to two years to liquidate their operations

“Legal casinos will have a period, we are talking about one to two years, for them to close gradually and support their workers,” Correa affirmed in an interview with RTS television channel.

Last week, authorities started the closure of illegal casinos that operated under appeals for protection, a resource that has been questioned by the government, which announced measures such as a training plans, job relocation and credits for people that will lose their jobs.

“We will try to bring all the support to workers both in legal and illegal casinos,” pointed Correa, who added that his government is working on a casino reform to have a grace period.

The prohibition of these centers was decided by Ecuadorians in a referendum proposed by the socialist President, who also achieved an endorsement to apply measures allocated to amend legislation and regulate the press.

Around 3,200 people work in the 32 legal casinos in Ecuador, where the law authorizes its operation just in five-star hotels, according to VP of the Casino and Bingo Association (Ascabi), Jorge Castro.

Ascabi had asked a grace period of up to five years to recoup some investments that it calculates in around us$ 180 million –made mainly by foreign firms- or the payment of a compensation that should update the value of that amount.