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Cipriani considers temporary casino in Punta del Este amid San Rafael delays

The proposal would involve an investment of up to $12m and the temporary relocation of Cipriani’s authorized casino operation to a smaller venue in the Punta del Este area.

2 min read
Uruguay
Key Points
Grupo Cipriani is in talks with Uruguay's Ministry of Economy and Finance about installing a temporary casino at the former Hotel Mantra property in Punta del Este
The company holds its casino authorization under the former San Rafael project and must justify a temporary relocation to another site in Punta del Este before regulators approve the plan

Uruguay's Grupo Cipriani is negotiating with the national Government to open a provisional casino in Punta del Este while construction of its delayed San Rafael resort continues.

Company representatives have held several meetings with Uruguay's Ministry of Economy and Finance, which requested additional details on the proposal. In response, Cipriani submitted an action plan outlining the characteristics of the proposed casino and the scale of investment involved.

Under the proposal, Cipriani would allocate between $10m and $12m to open the temporary casino. The company and the Government still need to agree on how long the casino would operate and the conditions for its installation.

Cipriani holds authorization to operate a casino within the ex San Rafael project, so it must present the Government with grounds to justify temporarily relocating the casino elsewhere in Punta del Este, specifically to Manantiales. Among the options under consideration is the former Hotel Mantra property, known as Locanda, where the company could install a gaming room considerably smaller than the one planned for the San Rafael complex.

The group has said construction delays and the postponement of the San Rafael project's opening justify the temporary measure. 

Since June more than 300 employees have trained at the Academia Internacional de Hospitalidad y Juego de Lujo, based at the former Mantra complex, for tourism and casino related roles. 

Many of them were originally expected to join the San Rafael project once it opened, but construction delays have left those job prospects on hold. Cipriani has said a smaller casino could create positions for some of those trainees and other workers linked to the project.

The proposal remains under review, and its outcome depends on the Uruguayan Government approving conditions for a temporary casino and agreeing with the company on the length of time it could operate.

The San Rafael project, an estimated $600m resort on the site of the former Hotel San Rafael, has faced several delays. Cipriani indicated earlier this month that the hotel and casino are now targeted to open in 2027-2028.

Good to know

Cipriani previously emerged as a potential bidder for the Conrad Punta del Este casino

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