The Uruguayan Government has called two (2) international bids for the construction and operation of two (2) luxury hotels, together with the exploitation of their corresponding games of chance and gambling rooms. The hotels shall be located in the cities of Paysandú and La Paloma, 375 and 225 kilometers --respectively-- far from Montevideo, the Uruguayan capital city.
Terms and conditions of such international bids are rather similar. The awarded companies resulting from them shall be entitled to operate the casinos for a period of twenty (20) years. In exchange, such companies shall be required to pay the State an initial amount equal to 7.20% of their annual gross income. Such percentage shall raise to 7.95% during the final years.
That said, there would be a significant difference. In the case of La Paloma hotel, the awarded company shall be required to buy the land (currently owned by the Uruguayan State) where such a hotel shall be built. The base price of such land (with an area of 27 hectares) would amount to USD 6,250,000.
In the case of Paysandú hotel, due date for offers submission is October 3, 2023, while in the case of La Paloma hotel, such date has not been announced yet.
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