Following years of indecision, the province of Buenos Aires will move to overhaul its ageing network of municipal casinos.
Last week, IPLyC the Provincial Institute of Lottery and Casinos announced the launch of a long-awaited tender to find a new property development-&-management partner to modernise seven provincial licensed casinos in Buenos Aires.
The tender launches the process towards reforming BA’s municipal casinos that have been plagued by years of decay, operating under an outdated infrastructure.
IPLyC, President Gonzalo Atanasof leads the project to find a new property partner to invest and manage the modernisation of the casinos of Tandil, Miramar, Mar de Ajó, Sierra de la Ventana, and two annexes in Mar del Plata—at the Hotel Hermitage and the Hotel Sasso.
A new direction for BA Casinos
Of significance, the IPLyC chose to add the troubled Necochea Casino venue to its tender, a property long left in disrepair due to political dithering.
“We are not merely looking to maintain operations,” said Atanasof. “This is about repositioning these venues as modern, competitive attractions that can bolster local tourism while protecting jobs.”
The tender process, which opens on July 8th, will grant operators a 20-year licence, with an option to extend for one additional year.
In return, bidders must commit to an investment plan to modernise infrastructure, upgrade gaming equipment, and to turn each casino into a year-round entertainment venue, complete with dining and non-gambling facilities.
The tender’s requirements are ambitious, but overdue as IPLyC casinos have operated on life support physically and administratively for years with limited support from BA depleted funds.
Since 2019, Boldt SA, a BA-licensed gambling operator has held temporary licences to manage six of the seven sites, due to previous failed attempts at privatisation under the previous governor, María Eugenia Vidal.
IPLyC granted a further temporary contract to Boldt to continue operating its casinos until December 31st, 2025, or until new property partners are found.
The IPLyC justified the extension on pragmatic grounds of “Ensuring continuity of services and protecting employment are essential to avoiding fiscal harm and upholding key public policies.”
The agency said in an official statement that caution is understandable as “the province earns considerable revenue from gambling, and sudden disruption would be politically costly.”
Necochea headlines BA investor challenges
The case of Necochea exemplifies the challenges facing the province. The coastal town’s casino—once a landmark of local tourism has fallen into complete disrepair and its future has become a “municipal headache”.
Town mayor Arturo Rojas has repeatedly criticised the province for delay, calling for urgent action to rescue the site. “This is not just about the building,” he told local media. “It’s about the workers and the community. We need the province to act.”
In response, Necochea has joined forces with the Bank of the Province of Buenos Aires to reappraise the site and restructure its tender terms in hopes of attracting private investment.
In Buenos Aires, the stakes are more than financial. The state’s previous flirtation with liberalising its casino properties has stumbled, due to bureaucratic chaos and political reticence.
The new project signals an intent to break with the past. Whether it delivers a change of course will depend on whether the IPLyC can convince investors to back its bold plans and overcome anxieties in investing in BA gambling properties.
