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New Hotel and Casino to be Built in Malaga, Spain
- October 18, 2016 By Nemanja L. -
Reports from Spain have suggested that Qatari investment company Al Bidda Group plans to include a casino establishment in the skyscraper hotel they are set to build in Port of Malaga.
The company has already been granted permission to build a luxury hotel, with around €106 million expected to be invested in the construction stage.
It has now been revealed that Al Bidda Group hope to secure a faster return on their investment by including a casino in their latest venture that would cost mere €3.6 million and would have the potential to generate serious earnings.
The problem is that local gaming rules only allow two casino establishments to operate in the province, with those licenses currently occupied by The Casino de Marbella, located within the Andalucia Plaza Hotel, and Torrequebrada Casino, operating as part of the Torrequebrada Class Hotel on the Benalmadena coast.
Bidda Group in Talks With Gran Madrid Group
El Confidencial claims that Bidda Group plans to purchase one of the two licenses and thus ensure everything continues according to the plan and they are reportedly in talks with Gran Madrid Group that operates the aforementioned Torrequebrada Casino, as well as Casino Gran Madrid and Gran Casino Cartagena.
It remains to be seen what the result of the negotiations will be, as the Casino de Torrequebrada-Malaga is very popular among the tourists, despite the fact that it only features 23 tables and 80 slot machines.
The new skyscraper hotel will be named Suites Malaga Port and it will be built on the Dique de Levante. The hotel should open its doors in 2020, and it remains to be seen whether the casino will be on the premises as well.
The Malaga city council approved the project last month, and the new establishment is expected to create 1,300 jobs during construction phase and another 350 when it launches in four years.