Grupo Globalia, a leading Spanish tourist group, announced plans to expand its presence on the Dominican Republic casino market; this information raised hopes that the gaming industry in the country could witness a significant boost, if the company further invests in the exotic destination.
Juan José Hidalgo, Globalia’s owner, has recently founded Riverbound Investment, an entity whose goal is to invest in gaming facilities that are part of resorts owned by the group. However, investing in standalone casinos in the tourist attraction hasn’t been excluded as a possibility as well. Reportedly, Globalia’s intention was to increase its market share in addition to casinos featured in the company’s Be Live properties and the exclusive gaming establishment the Dominicus. The Group has invested more than $450 million in Dominican Republic since it entered its gaming market.
The Caribbean island country is a leader among other countries located on the group of islands with more than 30 casino properties. Its largest establishment is the Hard Rock Casino in Punta Cana. Its operator, Hard Rock International, back in January revealed that a second resort named Hard Rock Hotel & Casino Santo Domingo would be built in the capital. Expansion plans were also presented by the Spanish operator CIRSA, which announced taking over the Grand Victoria Casino in Santiago.
The Dominican Republic has been struggling in the past few years because of the rise of illegal slot machines featured in illegal slot parlours, small businesses and bars. This resulted with a drop in gaming revenues as well as a decrease in tax gaming by 6.7% in the first four months in 2015 compared to the same period in the previous year.