International edition
September 18, 2020

Uruguay

U$S 45 million to be invested in a top casino hotel in Punta del Este

(Uruguay).- The first class hotel chain Intercontinental arrives in Punta del Este together with a foreing investment group that will build a casino with a us$ 45 million investment with a mixed casino (belonging to the state and to private parties).

T

he novelty was released last Tuesday, from the meeting registrated in the 5th floor of the building of the city council, with the participation of Mayor Óscar de los Santos, the investors –represented by real state businessman Leonardo Carbonell- and representatives from the parties Frente Amplio and Blanco in Maldonado

Participants of the meeting said that the investment group, at first, intended to present to the mega tender organized by the General Direction of Casinos from September 30th. The official plan is to tender 24 mixed venues in the whole country associated to tourist or sports projects.

However, it was desestimated due to the considerations made to the Casino Direction of the Ministry of Economy and Finances, that approved this initiative, according to the sources.

The investment group acquired a 7,000 sqm facility in Lobos de la playa Brava. The complex will count with 24 floors with 250 suites and deluxe infraestructure.

The place were the Intercontinental will be built is on Avenida del Mar and its  construction will generate 400 direct employments and many more indirect jobs. The amount pointed does not include the necessary investment to build the casino, that will be managed by the Casino Direction of the state.

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