new regulatory framework seeks to open the market in Chile"
reported by www.yogonet.com
Francisco Javier Leiva, Chile Casinos Superintendent,
was the speaker of the conference, "Chile: Casino
tender process", in the second day of the series
of conferences ey!05 "Encuentro Yogonet", held
in Centro Costa Salguero within SAGSE Buenos Aires 2005
on November 9-10.
Leiva talked about the new regulatory framework and the
current tender process, in which 17 new casinos are to
be licensed in Chile. He also gave details about Law number
19995, which regulates the process as well as the stages
and steps for the future.
new regulatory framework seeks to open the market,"
he said and added that the role of the state is to oversee
the industry. He then stated, "The project that will
increase the number of casinos seeks to improve and increase
the regional infrastructure in order to improve tourism."
to the law, some of the conditions to grant casinos in
Chile are the following: a maximum of 24 casinos will
be granted in total, from which there will be a maximum
of 3 casinos per region, with at least 70 kilometres one
from the others. Regarding riverboat casinos, he pointed
out that they are allowed by law, as long as they have
room for at least 120 passengers and navigate national
waters for three days minimum.
assured that, in addition to casinos, there may be other
investments to promote the development of each region
and the tourism infrastructure. Chile is organized in
12 regions (the metropolitan region excluded), and 48
projects have been presented.
talking about future changes in taxes, the superintendent
affirmed that, besides paying income tax, there is also
a special tax of a 20% gross income for games, managed
by the local council and the regional government where
each casino will be located. "The superintendence
coordinates and controls the projects, their social impact,
their impact in the environment and so on," he explained.
the end of the evaluation, the entity has to make a presentation
of the projects evaluated, that must reach at least 1200
points to be selected, considering a group of factors.
"The presentation should be made by regions. For
each region, we recommend the amount of places,"
talking to port
reported by The Sun Herald
Mississippi - Harrah's Entertainment and Copa
Casino began exploring options Thursday for returning
to the State Port at Gulfport.
commissioners directed the agency's lawyers and staff
to begin drafting lease amendments for the two casino
companies. Before Hurricane Katrina, the two casinos generated
about $9.6 million in annual revenue for the port.
Copa has asked for land to build a casino as well
as a hotel on port property, said Don Allee, the port's
executive director. Port commissioners reached a tentative
agreement with the casino.
Copa will exchange its current lease hold for 12 acres
at the north section of the port, said Rick Quinn, the
casino's chief executive officer. Chiquita, a banana importer,
occupies the property now.
got a layout that we think equalizes that much property
for Chiquita," Allee said. "We've got to dig
up some concrete that is part of an old slab and put a
flat surface down at the southwest corner of the port."
the parent company of Grand
Casino Gulfport, is looking to move its casino across
U.S. 90 on property it owns, but will keep a presence
at the port, he said.
may be a way to amend the lease and enter into an agreement
whereby we could get revenue from a rebuilt Harrah's on
the north side of 90 without giving up the revenue we
would get," Allee said.
accounted for the largest part, $7.6 million, of the money
the port makes from the two casinos.
haven't seen any drawings or any indications of what they
plan to come back with," Allee said. "It's all
pending approval. What we may do is if they come back
with a significantly larger investment, whether on our
property or on the north side of 90, we will consider
adjusting the percentage."
a larger casino, the port could receive the same amount
of money even if it lowers the percentage of gross gambling
revenue it charges.
port is using revenue from the casinos to fill in 84 acres
on the Mississippi Sound to expand its pier and warehouse
hotel will be a second phase project because space will
not be available for the hotel until maritime operations
are moved to newly created real estate, Quinn said.
think our mission all along has been to maintain that
pleasant balance of gaming and maritime commerce,"