| The old building of Hotel Casino Carrasco in Montevideo is to be tendered again by the City Council to private parties. Previous tender on the Hotel Carrasco held in 1990 never showed any considerable business effect. However, the administration considers Hotel Carrasco has the potential to attract high rollers of Argentina and Brazil same way as does Conrad Punta del Este. So far, applications of private business groups from a number of countries of South America and Europe have been received. They’ve indicated their intentions to invest US $50,000,000 to refurbish the tumbledown hotel and gaming center.
After an examination visit performed by businessmen last November, Pestana Group from Portugal has become the only one entity so far to acquire the necessary documents for the tender of the building, whereas all the other competitors are likely to revoke their applications after the deadline. Pestana is a Portuguese chain that operates hotels in historical places; now its targets are establishments in Uruguay, Chile, and Argentina. Pestana Group has already gained favor of some Uruguayan officials after they’ve attended its premises during a tour within Lisbon last autumn.
According to the sources in Montevideo Council, there are a number of reasons to offer the tender to private parties. One of them is financial constituent, as the council is unable to subsidize the renovation works. Another considerable reason might be that the Council might not have enough competence in gambling business arrangements.
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