Two main investors could pull out of BCN World

The Mayor of Salou, Pere Granados has expressed its concern about the possibility that the two main investors for BCN World, Melco International and Hard Rock pull out the project.

2016-04-01

Spain

Reading time 1:36 min

The Mayor of Salou, Pere Granados has expressed its concern about the possibility that the two main investors for BCN World, Melco International and Hard Rock pull out the project.

Granados claimed that the international firms could abandon its plans in the Catalan territory, based on the result of their current join casino-resort bid in Cyprus.

“If their project is confirmed in Cyprus, it is likely for them to give up BCN World,” Granados said. “The danger of them pulling out is real.”

Earlier this month it was announced that both Melco and Hard Rock are on the list of three operators competing for a new resort casino license in Cyprus. Since the government communicated its decision to grant a new gaming license last year, the process has advanced seamlessly, estimating to know the name of the bid winner next September.

A completely opposite case is that of BCN World, which has met with countless obstacles that have significantly slow down its process of realization. In fact, the bidding for casino-resort within the mega complex to be build in Tarragona has been blocked for almost two years, amid dissident political positions and awaiting for the Urbanistic Master Plan.

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Earlier this month it was announced that both Melco and Hard Rock are on the list of three operators competing for a new resort casino license in Cyprus

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These totally different scenarios have forced those behind the project to raise their voices so BCN World does not end up losing their two main investors.

Both Hard Rock and Melco have publicly announced large investments that exceed by far the €300m stipulated by the Government to participate in the public tender. A few months ago Hard Rock, despite the uncertainty surrounding BCN World, ratified its support to the project announcing the firm would be interested in investing up to €2.5bn in its Tourist Integrated Centre.

Catalan official’s fears that such a large investments might end up being used for the joint project in Cyprus if they obtain the license. Additionally projects are very similar in terms of offering and facilities.

Although founded, at the moment these are mere suppositions. However these may be a stimulus to accelerate the process of elaborating the PDU, which will define the technical guidelines of the buildings in BCN World and to reach political consensus to help dispel doubts about the controversial project.