Dreams, a casino operator in Latin America, announced that it has renounced the operating permit granted by the Superintendency of Gaming Casinos (SCJ) to build a new casino and hotel in the city of Iquique, because the designated land was declared a historical monument.
In a communication addressed to the Commission for the Financial Market (CMF), the company stated that the resignation is due to the fact that part of the land awarded for the project was declared a historical monument by the Ministry of Cultures, Arts and Heritage in 2019, which makes its construction impossible.
In turn, Dreams indicated that its decision is based on article 46 bis of Supreme Decree No. 1,722 of 2015, which allows for the renunciation of permits in exceptional conditions, when there are material or legal changes not attributable to the operator, prior to the project certification stage.
Consequently, they explained that the guarantees granted by Entretenimientos Iquique S.A. will not be enforced “because the aforementioned resignation occurs in the stage prior to the certification carried out by the SCJ and originates in material and/or legal circumstances that imply a change in the conditions existing at the time of the respective application, not attributable to the operating company and that make the implementation of the project impossible.”
Likewise, they emphasized that the possibility “of applying to the process of granting a new operating permit that is carried out as a consequence of the resignation” will not be affected. The document is signed by the general manager of Dreams, Patricio Herman Vivar.
It should be remembered that Dreams’ project in the municipality of the Tarapacá region contemplated the construction of more than 35,000 square meters of facilities, including a gaming casino, a five-star hotel with 120 rooms, a commercial and cultural area, a convention center for 2,000 people and 600 parking spaces.
