Venezuela Gets Another New Casino as Market Continues to Expand

Posted on: June 22, 2023, 07:07h. 

Last updated on: June 22, 2023, 09:34h.

Erik Gibbs Read More
Expertise: Asia Pacific Gaming, Gaming Business, Global Gaming.

Venezuela has taken a significant step in bolstering its tourism and entertainment sector with the opening of the Casino Hotel Roraima in Puerto Ordaz in the state of Bolivar. The opening of this state-of-the-art casino not only signifies a milestone for the city, but also underscores the country’s growing casino market and its potential for economic growth.

Patrons visit the Casino Hotel Roraima in Puerto Ordaz, Venezuela, for its return to the market
Patrons visit the Casino Hotel Roraima in Puerto Ordaz, Venezuela, for its return to the market. The casino reopened a week ago following a long hiatus. (Image: Casino Hotel Roraima)

The casino is one piece of Venezuela’s effort to tap into the lucrative world of gambling and tourism. Its recent grand opening, attended by government officials, business leaders, and local residents, showcased the nation’s commitment to boosting its economy through the development of the casino industry.

In 2021, Venezuelan President Nicolas Maduro overturned a decision made by his predecessor, the late dictator Hugo Chavez, and relegalized casino gaming. Up to 30 properties are possible, with several already open.

Rebirth of a Local Icon

The Casino Hotel Roraima isn’t an unfamiliar property to the locals in Puerto Ordaz. It shut down as the country changed its gambling views, but has reemerged bigger and better.

The casino offers a wide range of gaming options to cater to the diverse interests of local and international visitors. Equipped with state-of-the-art slot machines, poker tables, blackjack, roulette, and other popular casino games, the venue aims to provide an immersive experience for all guests.

Bolivar’s governor, Angel Marcano, tweeted about the inauguration. He said, “We continue to offer spaces for the family to have leisure and recreation options. This time, we had to reopen the Casino Hotel Roraima here in Puerto Ordaz. Venezuela continues to open spaces for investment and the economic development of the Homeland.”

The casino’s interior reflects the cultural heritage of Venezuela, with vibrant colors, traditional motifs, and artwork. The luxurious amenities and impeccable service provided at the venue are expected to position it as a premier entertainment destination in the region.

The inauguration marks a significant milestone for Venezuela’s casino market, which has experienced rapid growth in recent years. The country’s government recognized the potential economic benefits of developing the gambling sector, and implemented policies to attract investors and promote tourism.

This strategic approach has resulted in a surge of interest from international casino operators. They view Venezuela as an untapped market with immense potential, but they will have to remain patient. The incumbent operators are currently getting the first picks.

The government’s focus on responsible gambling practices ensures that the casino industry operates within a regulated framework. Strict measures are in place to prevent money laundering, promote fair play, and protect vulnerable individuals from the potential risks associated with excessive gambling.

A Work in Progress

The opening of the Casino Hotel Roraima is a testament to Venezuela’s commitment to diversify its economy. It’s a direct effort to harness the potential of the entertainment and tourism sectors to find new capital. The casino’s success should generate revenue and help in changing the perception of Venezuela as a solely oil-dependent nation.

The growing casino market has already created numerous job opportunities. At the same time, it’s contributing to the overall economic development of Puerto Ordaz and surrounding regions. The influx of tourists, thanks to the new property, should boost the entire local hospitality industry.

The return of the casino market to Venezuela is still a work in progress that sometimes sees complications. Recently, the dismissal of 20 casino workers caused uproar and led to legal challenges that continue to reverberate today.

The casino is part of the Hotel Baywatch Morrocoy in Tucacas, in the state of Falcón. The property reportedly fired the workers without justification and didn’t follow established and legal termination procedures.

As a result, a union representing the workers is supporting them in their battle with the property. They’re making headway, as the case has already gone to high levels of the government. The Ministry of Labor ordered the workers to be reinstated, but the property is trying to fight back.