Floating Casino Planned Off The Coast Of Paraguay In The Triple Frontier

The Argentine firm Comercial de Turismo has announced plans to construct a floating casino off the coast of Paraguay’s Puerto Presidente Franco. The eight-story ship is currently anchored on the Argentina side of the Iguaz Falls, with plans to include a spa, bars, and a casino.

The project will require a $60 million investment and will be completed in seven months, pending approval. It will also produce about 200 new jobs and be situated in the Triple Frontier zone, near the Puente Integración, the second physical boundary between Brazil and Paraguay.

The mission, according to Magno Lvarez, the Paraguayan consul in Puerto Iguaz, Argentina, is a “unprecedented attraction in the Triple Frontier area, from Paraguay to the world.”

Funding the initiative

The Consulate will fund the initiative, which is part of a plan from the Ministry of Foreign Affairs to increase international investment, according to local news outlet ltima Hora.

Furthermore, the Argentina company’s delegate, Santiago Lucenti, met with Foreign Minister Euclides Acevedo to negotiate the proposals.

Ministry of Public Works and Communications

“There’s a commitment to share the procedures with the Ministry of Public Works and Communications, so that the State Merchant Navy can authorise the arrival of this ship and have the Paraguayan flag [in it]”, he said.

“We’ll speak with the Minister of Tourism, Sofía Montiel de Afara, because obviously this is a tourist attraction, and also with Conajzar, which would be in charge of issuing a license to the casino,” he added.

According to local media, Comercial de Turismo will also negotiate the project with Aqua Paraná Turismo, which, thanks to a public-private partnership, was able to reactivate the Presidente Franco terminal, allowing the ship to stay anchored while the company seeks the requisite licences.