Casino Club obtains operating permit for Rio Negro casinos

A 20-year operating contract is to be signed this October for the casino to operate three gaming halls: El Bariloche, el Bolsón and Jacobacci 

Casino Club will be the concessionary of the mentioned gambling halls, as it was the only bidder accepting the economic proposal. 

The contract is expected to be signed later this October, after which these four rooms will be subject to operation by Casino Club for twenty years. After the process, expected to be finished by the beginning of November, the company will be in possession of the halls. The halls will be reopened when the provincial government mayors approve it, given the pandemic situation.

The previous contract was terminated when Entretenimiento Ptagonia failed to commit to pay the $4.2 million Trust Fund for the construction of the Bariloche Bus Terminal.

The current process of the execution of the Terminal has been modified, as the execution will no longer be the concessionaire's, but the obligation will be in the contribution of the investment.

Within two years the deposit to a trust fund will be created and will be made in "four consecutive semester payments, with a grace period of six months from the beginning of the operation", according to article 16 of the specifications.

With this, from November onwards the concession of the casinos and the salary and costs of 341 employees of the previous owner Entretenimiento Patagonia, will go to Casino Club. Thus, according to article 57 "100% of the casino's workforce (..)must be incorporated by the concessionaire". Casino Club currently operates 25 rooms in Santa Cruz, La Pampa, Misiones and Chubut, with 2,250 employees.

About SiGMA Europe Virtual Expo:

SiGMA Group is excited to announce the launch of their November event, SiGMA Europe Virtual Expo. The online event, which runs from the 24th to 25th, will focus on the European gaming and tech marketplace.

For more information about how to sponsor this event please contact Hamza and to explore speaking opportunities get in touch with Jeremy. To register for the expo click here.

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