Cipriani Proposes $10M-$12M Locanda Casino as San Rafael Opening Is Delayed

PUNTA DEL ESTE, Uruguay – Cipriani Group is exploring a $10 million to $12 million temporary casino at Locanda while its San Rafael resort remains delayed.

The proposal could put some casino operations and trainees to work before the larger Punta del Este development opens. Any gaming operation at Locanda would still require agreement with the Uruguayan government.

The plan remains under discussion and no authorization for a Locanda casino has been announced. Cipriani representatives have held several meetings with Ministry of Economy and Finance officials and submitted an action plan after authorities requested additional details.

Cipriani Considers $10M-$12M Locanda Casino

Cipriani is prepared to invest between $10 million and $12 million in the temporary venue, according to the report. The parties still need to agree on how long a gaming room could operate and the conditions under which the group could temporarily relocate casino activity away from San Rafael.

Locanda occupies the former Hotel Mantra property in the Punta del Este area, which previously operated with a casino. Cipriani now uses the property for hospitality operations and its International Academy of Hospitality and Luxury Gaming, where more than 300 young people are undergoing training connected to tourism and gaming roles.

The temporary casino concept is partly intended to provide practical work opportunities while the larger project remains under construction. Cipriani had expected many of the academy participants to move into positions at San Rafael, leaving their immediate employment prospects uncertain after the opening was postponed.

San Rafael Opening Moves to 2027-28 Season

Cipriani had most recently planned to open its flagship resort during the 2026-27 summer season. The company now says accumulated construction delays mean the property will not be completed in time and is targeting the 2027-28 season instead.

The Maldonado government said after an Aug. 17 meeting with Giuseppe Cipriani that the project remains active and that the developer expects it to open next year. Cipriani is also evaluating whether to replace construction company Criba amid a contractual dispute over delays.

Criba has disputed responsibility for the missed timetable, saying delays were caused by circumstances outside its control. Cipriani has said the broader San Rafael development will continue and has reported approximately $250 million invested in that project, plus about $45 million spent acquiring and renovating Locanda and establishing the academy.

Casino Concession Is Tied to San Rafael

The main regulatory question is whether Uruguay will allow Cipriani to use its casino rights temporarily at a different property. The government awarded Fosara S.A. a 20-year private casino concession in December 2020, conditional on construction, completion and operation of a luxury hotel.

That concession was granted for the San Rafael development, with its 20-year term beginning only after the hotel and casino are completed and operating. Cipriani therefore cannot treat Locanda as an automatically authorized replacement for the delayed venue.

Government discussions will determine whether a temporary relocation can be approved, how long it could operate and what conditions would apply. Until that agreement is reached, the Locanda casino remains a proposal rather than an approved gaming development.

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