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LATINO AMERICA pt 1 by Ricardo Chavez-Munoz
US and Western European countries. The South American country, which has been hitting
yearly growth of over seven per cent for the past few years, is poised this year to host two
A
lthough there are no disastrous sweeping measures in the region compared to major international summits and, of course, the sixth Peru Gaming Show in August.
the Russian legislation that will see present casinos closed by July 2009, some With major investors taking advantage of great tourist business opportunities, after its
countries are putting the dampers on industry development through fastidi- legendary Machu Picchu citadel was universally voted as one of the Modern Wonders of the
ous measures. This year Costa Rica is reducing casino opening hours and as is World, Peru is hosting two major world leaders summits. Following Thunderbird Resorts’s
usual in Latin America, operators will defend their rights in the courts by acquisition of the Las Americas hotel chain in Peru, the North American company is pulling
appealing to the protection of Habeas Corpus Laws. out all the stops building a casino in Lima’s plush Miraflores district, a gaming property
As the bad news in a buoyant industry in the region has been restricted to the previous destined to become the regional leader.
report, other niggling jurisdictions are Venezuela, where they have suspended issuing Subsidiary Thunderbird Hoteles Las Americas S.A. plans to remodel and upgrade all six
casino, slots and bingo licences for three years; Ecuador, where they threatened to close acquired properties and is currently evaluating the viability of placing casinos in four of
slots operations in Guayaquil; and Brazil, which outlawed bingos last year. On the whole them. President and CEO Jack R Mitchell announced in Lima the company’s construction
though, the region is looking well with many casinos due to open during the course of the of four new five-star hotels in the cities of Cusco, Arequipa, Trujillo and Iquitos.
next 12 months. With new resort and casino destinations in the capital city and the La Huaca complex
100 kilometres south of Lima on the Pacific coast, plus another mega resort in the north-
18 NEW CASINOS IN CHILE ern region of Tumbes, Peru is poised to follow up grand theme developments like the new
Chile is the top of the gaming countries, with eight casinos due to open in the second Atlantic City Casino, also in Miraflores, as the Government aims its tourist offer in a coun-
half of the year as part of its 2005 Casino Law drive, which will see a total of 18 new casinos try that is consolidating its economic growth base.
open by 2010. As part of this process, another six casinos will open in the first quarter of
2009. One new casino is already in operation and the total investment in the country’s new
licences will be around US$700 million by the time all the new casinos open.
One of the world’s major casino leaders is South Africa’s Sun International, which along
with Austrian company Novomatic acquired a stake in the IGGR licence for San Francisco
de Mostazal, under the banner NovoSun. The ambitious casino resort project with an
investment of US$145.4 million is some 70 kilometres south of Chile’s capital Santiago.
Monografie S.A., the market leader in gaming events in Latin America, has announced a
new activity in Santiago, during the last week of March 2009. “The Gaming Week” will pool
a group of specialized companies from the gaming sector coordinated in an extraordinary
gaming event that includes a congress, business rounds and one specialized course for pro-
fessionals: “Training Trainers”.
ECONOMIC MIRACLE FUELS PERU’S CASINO INDUSTRY
As a growing economy Peru does not have the first world financial sub-prime worries,
by Ricardo Chavez Munoz
possible double whammies, or indeed feared ‘perfect economic storms’ that may engulf the Read his monthly column in Casino International or check out
www.casinocompendium.com for up-to-date news on Latino America
OctaGames
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