It is now official. The Uruguayan Executive Power authorized the call for international public bids for the construction and operation of a luxury hotel with a private casino in Paysandú, bordering the city of Colón in Entre Ríos, which is joined by a border crossing.
The building will be located where the old cinema of Paysandú was once located, in the old Ambassador movie theater. It is speculated that the luxurious hotel will have 104 rooms and the concession for the private exploitation of face-to-face gambling in a casino with 100 slot machines, which, it is estimated, will yield a profit of 1.9 million dollars in the first year alone.
The resolution determines that the “hotel with casino room” with address at 18 de Julio 1170 will have a construction investment equal to or higher than 20 million dollars, with a maximum imputation to the value of the property of up to ten percent (2 million dollars).
It is also estimated that there will be significant employment, with 48 workers for the hotel, 85 for the casino, and 3 for administration, according to the feasibility study.
The bridge linking Colón with Paysandú.
The decision to carry out the work is based on the private initiative presented by the company Arena Paysandú S.A.S., of Argentine capitals. This project was accepted at the end of 2022, while the feasibility studies were approved in May.
The initiative implies an important investment for the department, as well as optimistic projections for the tourist, commercial and economic development of the commune, especially in a critical context which is spreading all over the Uruguayan coast and which mainly affects the businesses of the area due to the exchange difference with Argentina and the exodus of domestic consumption to the other side of the border.