Spanish company looks to create $50m casino resort in Necochea

Latin America
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Following the announcement that Complejo Casino in Necochea will be closed, hope could be on the horizon as rumours have surfaced that Spanish firm, Alaisa Distribuidora, is looking to invest in a new casino resort project in the city.

Alaisa Distribuidora SA – which recently acquired 51 percent of Argentina’s main dairy company SanCor in a $130m deal – has reportedly proposed building an international five-star hotel including conference facilities, and a spa.

In the note sent to the city mayor’s office, the company said that it intended to refurbish the casino and put it back into operation as part of a $50m investment.

Despite this, sources in the city government have cast doubt on the viability of the proposal. The company reportedly did not follow the protocol for such a submission which requires the investor to pay one percent of the value of the project, i.e. $500,000, prior to presenting a draft proposal.

“It’s just common sense. If you are going to invest $50m, you do not just submit the proposal on three pages to the municipality,” said an unnamed source in the city administration speaking to Cuatro Vientos.

In November last year, Facundo López, the Mayor of Necochea, criticised the provincial government’s decision to close the city’s single casino and warned of the negative impact the move would have on the local tourism industry.

Marcela Fernández Palma, a councillor for Cambiemos, the leading party in the province, contended that the governor, María Eugenia Vidal’s decision was politically motivated, reflecting the government’s policy of reducing gaming in Buenos Aires Province.

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