Argentine company Boldt has announced the formation of a company in Paraguay to build and manage a hotel casino complex in that country. Boldt, quoted on the Buenos Aires SE said that the 7 Saltos company will bulild, equip and operate the casino in Salto del Guaira city in Canendiyu province on the border with Brazil. Casinos are outlawed in Brazil and most of the gamblers there travel to casino properties in Uruguay and Argentina.

Last November, Boldt announced plans to set up 7 Saltos, with a share capital of US$3.2 million, in partnership with Argentine company Worest and Paraguayan American Gaming. In a statement, Boldt said that they were not worried about the remote location of their property: "There is no geographical protection in the business, and if another company wishes to set up shop next door there is nothing we can do. The project is very interesting to us because of its proximity to Brazil".

Boldt owns Casino Trilenium, which is the only casino in Buenos Aires province, some 50 miles away from the city centre. Casino Trilenium is the largest entertainment centre in Latin America with live shows and restaurants. Last September Boldt in association with Spanish Grupo Peralada, the largest operators in Catalunia, opened the first casino in Melincue, in Sanfa Fe province. (E-03.10.08)

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