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Spain – Tenerife to relaunch tender of Playa de Las Americas casino

By - 22 September 2014

Despite three operators allegedly expressing their interest, no one has come forward to buy Playa de Las Americas casino in the south of Tenerife, in the Canary Islands.

With the submission date passing with no formal bids lodged, the Council (Cabildo) has opted to look into the reasons why no offer was made before relaunching the tender process. Politicians approved the sale of the casino in April as part of a plan to restructure the public ownership sector.

The council said it would continue with its process of disinvestment and privatisation on the island, adding that it needed to withdraw from business activities such as casino operation.

The council said it was remained engaged in the process of the ‘restructuring of public sector enterprises, with an implementation rate around 90 per cent, and is already working on a second phase in accordance with the guidelines and Streamlining Act Sustainability of Local Government.’

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