Casinos de Tenerife sale hits dead end

The Casinos de Tenerife sale had no bidders.
The Casinos de Tenerife sale had no bidders.

The sale of the Casinos de Tenerife — three state venues — had no bidders, amid a serious controversy surrounding the process.

Spain.- The sale of the three state Casinos de Tenerife keeps running into hurdles. Amid legal issues and critics, the contest (which began in 2016) was unsuccessful and the tender had no bidders.

Although the Government still needs to accept the decision, the Contracting Board proclaimed the negative result. They believe the required €4.5 million investment in the tourism segment to win the bid scared companies away.

The Governing Council of the Cabildo de Tenerife will decide on Tuesday whether it confirms the result.

Lack of interest

Four companies wanted to land the venues at first, but only one remained interested a few weeks back. Still, it seems not even that one was willing to invest in tourism in the region.

Anyway, the whole sale has been tainted with accusations coming from many segments. The Provincial Prosecutor filed a lawsuit against Casinos de Tenerife over alleged prevarication.

The legal attack followed major criticism all along the way of the bidding process, with workers and locals complaining.

DGOJ at IMGL

The Dirección General de Ordenación del Juego (DGOJ), the gambling regulator from Spain, continues its participation in gaming events in Europe. Representatives of the regulatory body travelled to Munich for the Autumn Conference of the International Masters of Gaming Law (IMGL).

During the conference, the DGOJ addressed the current situation of the gaming industry and the regulatory trends in different jurisdictions. During the event, there were panels dedicated to the development of the international gaming industry. They also analysed growth opportunities with artificial intelligence in the online gambling market. The regulator also discussed advertising and responsible gaming.

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