Balearic casinos to open annexed properties
Three Balearic casinos will now be allowed to run an annexed casino in another area apart from their existing operation.
Spain.- Three casinos located on the Balearic Islands of Spain, will now be allowed to run an annexed casino in another area apart from their existing operation. The regional government has a goal of complying the law with the regulation carried out in a restrictive way and the Balearic casinos would like to have more land for their gaming branches.
According to G3 Newswire, the public notification of the regulation ended last week and states that for an additional gaming site to be established by an operator, a deposit must be put down. The gaming venue extensions have the option to be located on any of the Balearic Islands.
Currently, the deposit to be made by the gaming venues will be the Mallorca paying €450,000, the Menorca paying €225,000 and the Ibiza and Formentera paying the €225,000 deposit as well.
The option to have an offsite annex has caused some controversy as the measure was approved whilst members of the socialist party were opposed based on principle. Legislators argued that a standalone annex should be subject to public tender.
The local government has stated that the annexes will have to be operated by the same group that runs the casinos on the islands. This will count as one business unit for taxes. Mallorca will be able to operate one gaming room for six months while the other islands will have the option to operate for only three months. The Mallorca annex will be located north of the island or in the Bay of Palma where currently operates a five-star hotel.
