The Gambling regulatory agency for Paraguay has approved the final terms to open bidding for construction in a new casino in Ciudad Del Este to attract Brazilian players who live in Foz do Iguaçu.
CONAJZAR wants to accelerate the process, fearing a possible disinterest of investors with the imminent approval of the Brazilian Gambling bill. According to the Agency planning, investors' proposals are expected to start arriving by March 2017.
The gaming venue would be located near the "Ponte da Amizade” or Bridge of Friendship in an area of approximately 27 acres. It would have a hotel of 200 to 300 rooms with swimming pool, stores and other spaces for leisure and entertainment.
According to G3 Newswire, the new Paraguayan casino is expected to attract a U$50-U$70 million investment and the licensing will grant the winner a 20-year concession.
Source: GMB / World Casino News
