Paraguay to Announce Winning Bidders

Sun, Oct 18, 2015

The government of Paraguay is preparing to announce the winners of two 10-year gaming licenses in Asunción. Each developer must pledge to invest at least $10 million, and will have about three years to get up and running. Javier Balbuena (l.), president of Conajzar, will reveal the winning bids.

Industry overdue for growth

Javier Balbuena, the president of Paraguay’s Gaming Commission, or Conajzar, says the regulator will soon announce the winners of two casino licenses in Asunción, the country’s capital and largest city.

According to the World Casino Directory, each of the winning bidders must invest US$10 million and pay a monthly fee of G.450 million (US$80,000), plus 12 percent of net revenues to the government. They will have three and a half years to build and open the resorts.

The new entries will join the Casino de Asunción, a Worest Asunción property that opened in 2014. Though Paraguay legalized land-based casinos in 1997, insufficient foreign investment has caused the industry to remain underdeveloped. Illegal gaming is widespread, reported WCD.

Balbuena said the country is working to promote itself as a global gaming destination with the help of Paraguay’s Minister of Tourism. Conajzar previously approved tenders for casinos in the Central, Alto Paraná and Amambay provinces, according to CasinoInternational-Online.com, noting interest in the private sector in investing in several cities in the South American country.

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