Montevideo Casino Parque Hotel Moves to National Control
Uruguay · BUSINESS
Key Facts
- —What happened Montevideo’s Casino Parque Hotel closes as a municipal casino on 28 August 2026 and transfers to national control.
- —How big The casino has 46 workers, with 35 taking early retirement and 11 moving to other municipal jobs.
- —The catch The building, inaugurated in 1909, has operated from Casa de Andalucía only since 2015, not its original site.
- —Who pays The Intendencia de Montevideo ends its subsidised operation after the casino posted losses in 2024.
- —What comes next The Ministry of Economy reopens the casino around 9-10 September 2026 with its own staff.
- —Investment note IBF Negocios has invested over US$200 million in Uruguayan companies over 15 years.
Uruguay’s only municipal casino moves under national control from September, as investment firm IBF Negocios expands.
Montevideo’s Casino Parque Hotel, Uruguay’s only municipal casino, will close on Friday 28 August 2026 after years of losses. The national Ministry of Economy and Finance takes possession on 1 September 2026 and will reopen it days later.
Why the Casino Parque Hotel leaves municipal hands
The Casino Parque Hotel is Uruguay’s only municipal casino, housed in the Casa de Andalucía building in Parque Rodó. The Intendencia de Montevideo, the city government, has managed it for years, but the operation has run persistent deficits.
In 2024, the casino posted losses, described in Spanish as ‘números en rojo,’ meaning red numbers. That financial performance convinced city officials the casino was no longer sustainable as a municipal business.
A formal resolution ends municipal management, transferring the building and casino operation to the national Ministry of Economy and Finance. The ministry will take possession from 1 September 2026, according to reports from 21 August 2026.
El País reported on 21 August 2026 that the decision follows successive deficit balances. The transfer reclassifies Casino Parque Hotel from a municipal casino to a national one under existing state regulations.
The legal and administrative background of the transfer
The Intendencia de Montevideo issued a resolution to end its management and transfer the property to the Ministry of Economy and Finance. This starts a formal process called ‘toma de posesión,’ meaning taking possession, from September onward.
Historically, the Parque Hotel building opened in 1909, and the city government acquired it in 1915. In 2015, casino operations moved from the historic building into the Casa de Andalucía premises, where they currently function.
State casinos in Uruguay operate under the Dirección General de Casinos, an agency under the Ministry of Economy and Finance. This agency already manages casinos at Nogaró, Victoria Plaza, Piriápolis, Rivera, and 31 gaming halls nationwide.
Group R Multimedio reported on 21 August 2026 the historical details and the resolution’s content. The transfer brings Casino Parque Hotel under the same regulatory framework governing other national casinos.
What happens from 1 September 2026
Casino Parque Hotel closes as a municipal casino on Friday 28 August 2026. The Ministry of Economy and Finance takes possession of the building on 1 September 2026.
The casino is expected to reopen under national management around 9 or 10 September 2026. New staff, hired by the national casino authority, will operate the gaming floor.
Montevideo Portal reported on 21 August 2026 the planned reopening date and new staffing. The venue remains an emblematic casino point in Parque Rodó, now part of the national network.
Subrayado confirmed on 21 August 2026 the possession date and operational shift. The building itself is not being repurposed away from gaming, just changing management.
Workers face retirement or reallocation
Casino Parque Hotel currently employs 46 workers under the Montevideo municipality. A negotiated agreement between the city and the workers’ union settles their future.
Thirty-five workers will take early retirement, called ‘retiro anticipado,’ with economic incentives. Their years of service count as ‘insalubres,’ meaning unhealthy work, allowing retirement at a lower age.
The remaining 11 workers will move to other municipal jobs, the Adeom municipal workers’ union said.
Pablo Nisivoccia, vice-president of the Association of State Casino Workers, noted new staff will arrive with the Ministry. The casino reopens under state management in early September, as reported by Subrayado on 21 August 2026.
The hotel building and its future use
The Casino Parque Hotel building, an emblematic structure in Parque Rodó, ceases to be a municipal asset from 1 September 2026. The national Dirección General de Casinos assumes operational control of the gaming operation.
This agency will use its own personnel to run the casino, according to Grupo R Multimedio on 21 August 2026. The venue stays as a casino, integrated into the state-run network across Uruguay.
Available reports focus on the casino use and labor aspects, not on any separate hotel-lodging business. The current activity is described as a municipal casino in Casa de Andalucía, without mention of overnight guests.
The main change is institutional and operational, from municipal to national control. El País reported on 21 August 2026 that the building remains in gaming use, not repurposed away from it.
IBF Negocios and its US$200 million investment
IBF Negocios, an investment firm, marks 15 years of activity in Uruguay in 2026. Over this period, it has invested more than US$200 million in Uruguayan companies, according to Ámbito on 24 August 2026.
The firm began around 2011 with seven or eight founding partners. It has since grown to about 600 investors participating in its investment vehicles.
Since roughly 2021-2022, IBF accelerated its pace, investing between US$40 million and US$50 million per year. This marks a clear shift from its earlier, more gradual growth phase.
As of 2026, companies in IBF’s portfolio collectively generate over US$250 million in annual sales. The firm has built a diversified set of holdings across the Uruguayan economy.
Sectors targeted by IBF Negocios
IBF Negocios operates across several real-sector and consumer-oriented industries. These include food, agribusiness, veterinary products, technology, and mass-consumption goods.
The firm’s strategy involves diversifying its acquisitions across different economic segments. This approach spreads risk and captures growth in various Uruguayan markets.
Ámbito reported on 24 August 2026 the full list of sectors in IBF’s portfolio. The firms in these industries range from small enterprises to larger companies.
The acceleration since 2021-2022 allowed IBF to add broader and larger companies. This fits a pattern of aggressive expansion in the country’s investment landscape.
A concrete deal: IBF joins Edintor S.A.
IBF Negocios has taken an equity stake in Edintor S.A., an importer and distributor in Uruguay. This company distributes INGCO, a leading brand in the local tools market.
The association aims to ‘acelerar su expansión en Uruguay y la región,’ meaning accelerate its expansion. IBF adds Edintor as a new company to its portfolio, according to a business note from 20 August 2026.
Public summaries focus on strategy and aggregate numbers, not listing all portfolio companies. Edintor S.A. stands as one confirmed example of IBF’s concrete investments.
The deal supports Edintor’s growth plans within Uruguay and the wider region. This fits IBF’s pattern of backing firms in distribution and consumer-facing sectors.
Frequently Asked Questions
When does Casino Parque Hotel close as a municipal casino?
Casino Parque Hotel closes on Friday 28 August 2026. The Ministry of Economy and Finance takes possession from 1 September 2026.
Why is the casino being transferred to the national government?
The casino has run persistent deficits, including losses in 2024. The Intendencia de Montevideo decided it was no longer financially sustainable as a municipal operation.
What happens to the casino’s 46 workers?
Thirty-five workers take early retirement with incentives, counting their service as unhealthy work. The remaining 11 workers move to other municipal jobs.
Will the casino reopen under new management?
Yes, the casino reopens around 9 or 10 September 2026. The national Dirección General de Casinos will run it with new staff.
What does IBF Negocios have to do with the casino?
IBF Negocios is a separate investment firm, not related to the casino. It has invested over US$200 million in Uruguayan companies over 15 years.
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Sources
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