Global hospitality giant Cipriani is all set to develop a new casino resort in Uruguay’s coastal town of Punta del Este. The estimated cost of the venture would approximately be around $450 million.
The project involves refurbishing the San Rafael Hotel, which is in a bad state as of now. A new building is also to be added at the site which would be the new casino and hotel.
In a statement to the press, revealing the plans for the new casino, the company said that “The new complex … will include the faithful reconstruction of the emblematic San Rafael Hotel, preserving the original design and complementing it with beautiful residences, restaurants, spa, pools, casino, theatre, boutiques, and a serviced beach club. Historic heritage, modern sensibility, and taste for timeless luxury will deliver the most unique experience in Punta del Este.”
Cipriani owns multiple gambling venues at several top locations in Las Vegas, Dubai, Miami, Monte Carlo, and Hong Kong.
Uruguay’s Punta del Este already has three casinos, and therefore it wouldn’t be easy for the new Cipriani casino. The biggest gambling venue in the area, the Conrad, which hosts 75 table games and 550 slot machines could give the new casino a run for the money.
The casino project is expected to be complete by 2021.