Expires in October 2019
Lawmakers in Buenos Aires are pondering the fate of a floating casino in the waters off the city’s coast. Under the existing city constitution, according to media reports, the casino’s license cannot be renewed after it expires in October 2019.
CalvinAyre.com reports that the casino is expected to add around $135 million in tax revenue to city coffers this year. For that reason among others, Buenos Aires Mayor Horacio Rodriguez Larreta wants to keep the casino open. He hopes the government can nationalize the industry or issue a license for slot operations and let the state run table games. If the casino closes, it could mean the loss of 2,000 local jobs.
In order to keep the casino afloat, Larreta will have to contend with opposition from Elisa Carrió, national deputy for Buenos Aires and leader of the social liberal Civic Coalition ARI Party, Provincial Governor Maria Eugenia Vidal, who opposes any expansion of gaming, and Argentina’s Vice President Gabriela Michetti, who opposes all gaming activity.
According to CDC Gaming Reports, in July 2016 Buenos Aires first took total control over gaming and a gross income tax on gaming was first implemented. At the same time, the government called for the payment of back taxes. What that agreement was made, the floating casino’s license was extended until the end of 2019. Then the government raised the state fee on the floating casino from 20 percent to 30 percent.
G3Newswire reports that any decision to extend the license will “come at a high political cost” for Larreta, who hopes to be re-elected as mayor of the capital city next year and doesn’t want to wage war over gaming with Carrió, Vidal or Michetti.
