On Tuesday the recently appointed Superintendent of Casinos announced that the first official proposal had been presented in the country’s planned casino expansion. Last January the new Chilean Gaming Law set in motion the process of adding 17 casinos throughout the country, except in the Metropolitan region of Santiago. Valdivia, to the south of the capital has received the first casino proposal from a joint venture between Inversiones Pacifico Sur and Inversiones y Turismo, property of the brothers Claudio and Humberto Fisher.

Each region of Chile, except Santiago, may have at least one casino with a maximum of three. Minimum distance between any casinos must be 45 miles. Proposals for the 17 casino projects must be submitted on or before July 5, and companies may express their interest in as many as they choose. After their initial proposals, the companies have one month to present full details of any of their projects that they wish to pursue. Following the full presentation, the Gambling Commission will analyse the submitted projects before making a final decision.

The first proposal for the Los Lagos Region is in the port city of Valdivia, founded in the 16th century and known as the Pearl of the South. An investment of US$62 million is contemplated for a commercial centre with 72 retail outlets, six cinemas, a spa and a casino. Claudio Fisher has said that work on the project could begin by the end of the year. He also mentioned plans to invest between US$120-150 million in further casino projects in Calama, Temuco, Coyhaique and Punta Arenas.

The expansion of casino operations in Chile has excited the interest of both local and international companies, and by next Tuesday their choice of locations will have been submitted. Some of those companies expected to pursue casino operations in Chile are the North American company Thunderbird, Spanish Cirsa and Egasa, Hamburg Holding of Germany and Latin Gaming of Panamá. (E-06.30.05)

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