Genting Casinos UK, the united kingdom subsidiary of Malaysian gaming and hospitality giant Genting Group, will invest €140 million in what could become one of Andorra’s biggest foreign jobs.
The government of the tiny nation squeezed between Spain and France is expected to announce the winning bidder for the construction of its first casino resort within the upcoming few weeks. As many as nine developers have submitted 13 bids for the only casino gaming permit.
Genting has actually been one of those businesses to place the biggest bids. While more details about the business ’s project are yet to be released, it has been understood that approximately €90 million of those whole €140-million investment would be spent around the gaming section of the scheme. The company would also create a €35-million resort tower and distinct amenities, such as restaurants, bars, along with a health spa, as part of the whole resort.
Genting’s project in Andorra is expected to create 600 jobs during building and about 400 permanent jobs when the land is fully operational. Based on information from several resources, Andorra welcomes between 8 million and 10 million international visitors every year. Genting has said that it anticipates its resort, if it will get the green light from the nation’s government, could annually bring around 600,000 visitors.
The company considers Andorra a tactical marketplace due to its proximity to France and Spain and this is the reason it is ready to bet big on this untapped market.
Bidding Process
As stated earlier, there were 13 jobs to have been submitted as part of the bidding process. The winning programmer, slated to be declared by the end of this month, will be granted a 20-year permit for the performance of a casino gaming facility within a larger resort.
The bidding process was launched with a requirement for aspiring programmers to every present a project with a minimum investment of €10 million. While most of the exemptions filed smaller-scale programs, Genting has just one big competitor to get, too, introduced a €140-million strategy.
Andorra local programmer Cierco, Gauselmann Group’s Merkur, and French gaming operator Partouche are, too, engaging in the bidding process.
Commenting on the fact that Andorra’s casino will actually be part of a larger resort, Genting has said that the standalone casino model has become somewhat obsolete which land-based gaming facilities will need to be accompanied by other, non-gaming, places in order to survive and thrive in an extremely competitive environment.
Andorra has become yet another European nation to have been fascinated in exploring the casino resort version , even though its very first such land will be of a smaller size when compared to behemoth resorts situated across the Las Vegas Strip and Macau.
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