Casino Metro invests$6 M in the expansion of its installations at Sheraton Hotel

Casino Metro, located in the Sheraton Hotel of the Convention Center in Miramar, has invested about $6 million in new slot machines and gaming tables. The expansion should lead to growth in the bets placed in this casino and, in turn, in the collections that reach the University of Puerto Rico (UPR) and the General Fund, assured its general manager, Ismael Vega.

Vega estimated that the new machines and tables should bring a 30% increase in the contributions they make to the various funds to which, by law, a portion of gambling in casinos reaches.

“There are 150 additional slot machines, out of the 500 we had. That's 30% of the growth and it's no small feat. It's a big expansion. There are casinos with the number of machines that we have only in the expansion,” he said. “We are the main casino on the island in terms of revenue, the most we contribute to group B, which is the Tourism Company (of Puerto Rico), the UPR and the General Fund. We almost reached $20 million in contributions to that group and here we can bring $5 million more, if you calculate that there is 30% more business,” he indicated.

The Metro Casino held an event this Thursday to inaugurate the new gaming area. The expansion means 150 new slot machines, for a total of 641 machines, as well as about six new tables to reach 28 gaming tables. The expansion adds another 30,000 square feet to the casino, located in the lobby of the Convention District's anchor hotel. The expansion, in turn, increases the casino's workforce to 235.

The expansion follows Casino Metro's recent foray into the sports betting segment through the Caesars Sportsbook app.

When asked by the press, Vega acknowledged that 80% of his clients are locals, while 20% are tourists who usually prefer table games. With the addition of the new machines, his expectation is that trend will continue.

“This hotel, because it is a corporate, convention hotel, receives many tourists. If you come in the morning there are a lot of locals, but late in the afternoon, there are more tourists at the tables. The proportion is 80% local and 20% tourist,” he said. “It will continue to be that way because we proportionally add the same in tables. There are six new tables that join the ones we had. “We are being very aggressive in promotion through networks, trying to see how we promote abroad.”

Surveys conducted by Discover Puerto Rico on visitors reflect that in 2023, 15% of visitors went to casinos or participated in gambling activities.

The director of the Department of Economic Development and Tourism of the Municipality of San Juan, Daphne Barbeito, said, for her part, that “having a broader, more diverse customer base always helps position the destination in a better way.” 

“(The casino) is not one of the main items that tourists are looking for, but it adds to the entertainment and activity. This particular casino is a diverse casino. You can come and enjoy the bar and you have live music every day and, if you don't want to play, you accompany someone who likes it,” said Barbeito. “Several elements come together that can, together, contribute to tourist activity.”

Collections in the industry
Juan Carlos Santaella, interim executive director of the Gaming Commission, said, for his part, that casinos generate about $350 million annually, of which $70 million goes to the UPR and another $30 million to the General Fund, in addition to the money sends to the CTPR and the agency he directs.

“About the sports betting industry, the first year it had bets of over $30 million. Already by the first six months of 2024, it doubled to sixty-odd million. You can see that people are enthusiastic and that it is a growing industry,” said Santaella.