Famous for its winter sports and mountaineering activities, the Province of Neuquén in Argentina yesterday saw the opening to the public of the newly relocated Casino Magic. Pinnacle Entertainment has three casino properties in the spectacular Patagonia region of Argentina offering Vegas-style gambling with a South American flavour, and the casino in Neuquén has now moved about one mile from its previous position. The other two casinos are in San Martín de los Andes and Junin de los Andes.

The new facility at Neuquén was funded almost entirely from Casino Magic Argentina’s cash resources and the new entertainment venue features a larger and more lavish casino, top restaurant, wine bar and three casino bars, and discothèque. The project was completed on a budget of US$15 million. Pinnacle has a concession agreement with the Province of Neuquén, which provides for exclusive operation of casinos within about a 33-mile radius of Casino Magic. The concession extends to 2016 and will be further extended to 2021 if the company’s plans to build a small hotel in the province materialise.

Neuquén is the commercial capital of the region and a second stage of development by Pinnacle may include a larger entertainment complex with cinema and bowling venues. Daniel R Lee, Chairman and CEO of Pinnacle Entertainment was present with Neuquén’s Mayor, Horacio Quiroga, and Governor Jorge Sobisch at the ribbon-cutting ceremony on 27 July of the relocated Casino Magic. He commented, “We are excited to have built in Neuquen what I believe is now the leading casino facility in Latin America." (E-07.29.05)

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