Orenes Group plans the construction of a huge Casino Resort in Dominican Republic

During Fitur, the president of the real estate developer CLERHP, Juan Andrés Romero, spoke about the Larimar City project. It is entering the planning phase, but still has a long way to go.

The project has already obtained the interest of Orenes, which will operate the casino, although the final designs are still in process. CLERHP isn't sure if it wants a dedicated casino or a mixed-use facility, and it's in no hurry to decide.

The Larimar City construction will cover about 2.7 million square meters (about 667 acres) and will have a waterfront with restaurants and other shops. It will offer 25K apartments, possibly with six hotels, a casino, a hospital and educational centers. Located throughout the paradise of the Dominican Republic there will be swimming pools and water attractions, a shopping center, green areas, sports fields and health clubs.

CLERHP owns 100% of the land through its subsidiary Inecar, which gives it full control of the project. Inecar will carry out the works of the entire complex over 11 years, which will mean a work portfolio of 175 million euros (190.59 million dollars) just for the structures. If things continue on track, work will begin in the second half of this year.

Inecar will have another 100 million euros (US$108.9 million) invested for project management activities, which are already starting. According to Romero, investment companies, especially with hotel chains, are going to be part of the equation.

CLERHP and Orenes Group signed an agreement to manage the casino last month. However, there are two scenarios that are still being reviewed for the final version of Larimar City game operations.

One would be the Odiseo, a mixed leisure and casino format, which includes discos, gastronomy and other activities. The other would be a pure casino format, which would bear the name of Gran Casino Orenes Punta Cana. Romero told Spanish financial news outlet Investment Strategies that the decision would be made in the coming months.

The apartments will be available for purchase, which Romero expects to take about 10 years. Then, over the next two years, CLERHP will complete construction. In other words, it will take a while before the project comes to life.

Orenes Group on the rise

Orenes has been able to weather the COVID-19 debacle better than many gaming companies. This is evidenced by its continued growth and global expansion.

Recently, the company joined Atlántica de Azar, its subsidiary in the Galician Spanish market. Orenes announced the acquisition of two gaming operators in the region, Eplomarsa Coruña and Electrónica Erma.

The purchases increased its presence to a total of 342 gaming rooms in Spain and more than 20K arcade machines in various leisure and hospitality properties.

Orenes has eight casinos in Spain and another three in Mexico, a territory of special interest for its strategic plan. In the latter, it has just expanded its gaming footprint through an investment of 300 million euros (326.52 million US dollars). He is also active in Ireland, Andorra, Ecuador and Colombia.