Former Casino Entrepreneur to Return to Casino Industry in Argentina
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Cristobal López was convicted of fraud and tax evasion. He is set to regain control of Central Casino of Mendoza and profit from the slot machines there in the next ten years.
Lopez's company, Traylon SA, won the competitive bid for Godoy Cruz's Central Casino. The decision to award the license is pending the official approval from the State Prosecutor’s Office for the Provincial Institute of Games and Casinos. Traylin offered to make a $2.24 billion investment to completely remodel the building and install 720 slot machines in exchange for 52% of the revenue. Desarrollos Maipú wanted to retain 62%, Plaza Central and Fuente Mayor proposed to keep 71.87% and 54%.
López entered the casino business in 1992. He won the tender to install a room in Comodoro Rivadavia. In 2016, he transferred to Ricardo Benedicto his shares in Inverclub. López is accused of setting up a tax evasion structure that allowed him and his partner to forgo ARS$8 billion in debt owed to the state via their energy company, Oil SA.
