Paraguay grants license for new casino project

The future entertainment proyect will be located in the area of San Francisco Island, which is part of the municipality of Limpio city, part of the Central Department, confirmed Javier Balbuena, president of Conajzar.

Resolution 41/2017 indicates that the project will be installed in the Central Department in accordance with Article 20 subsection of Law No. 1,016 / 97 for the term of 25 years.

"It is a transformative project for the entertainment industry as it is the biggest one for the country and of transcendent impact for tourism development creating in Paraguay a pole of attraction in this matter," commented Balbuena.

The concession fee to Vimerica SA is 7% on profits with a minimum of US$ 138,500, as established in the Conajzar resolution. The firm's investment commitment for the installation of the integrated entertainment center -hotel, resort and casino- is US$ 148 million.

Source: GMB / lanacion.com.py