Historic casino in Necochea heads to auction as business sector backs sale
Business leaders back redevelopment plans but warn the auction price may exceed local market benchmarks.
The abandoned casino complex in the coastal city of Necochea, Buenos Aires Province, is moving closer to a public auction after local business leaders endorsed the sale while raising concerns that the $9m valuation exceeds local real estate market conditions.
Mayor Arturo Rojas met with representatives from the Necochea Quequén Chamber of Commerce and Industry to discuss a proposed municipal ordinance that would authorize the sale of the property.
During the meeting, both the Chamber and the Association of Construction Companies expressed support for placing the complex up for auction. Business leaders agreed the structure can no longer remain in its current state of deterioration. They highlighted the potential economic impact that redevelopment could generate through investment, job creation and tourism.
However, concerns were raised over the base price set for the auction. The valuation was carried out by Banco de la Provincia de Buenos Aires, which confirmed the property would require extensive rehabilitation due to advanced structural damage.
Built between 1972 and 1973, the complex once stood as one of South America’s largest entertainment venues. At its peak, it featured 50 gaming tables finished in Carrara and Verde Alpe marble, a bowling alley, skating rink, ocean-facing swimming pools, commercial galleries and an oval theater hall locally known as “the UFO on the dunes.”
The decline began in the late 1970s, fueled by economic instability and the opening of Route 11, which redirected tourist flows away from Necochea. Four major fires between 1978 and the late 2010s further accelerated the degradation. The gaming floor was destroyed in 2001, while the iconic theater burned down in 2018. Subsequent looting stripped the complex of its furnishings, metal structures and decorative elements.
Architect Néstor Jorge Freitas, who took part in technical assessments of the site, attributed much of the damage to construction flaws. The use of aluminum combined with iron bolts and metal roofing proved unsuitable for the coastal climate, leading to severe corrosion caused by salt exposure.
Today, only a small gaming room operated by the Buenos Aires provincial government remains active, having reopened in January 2023. The surrounding areas have since been informally used by residents for recreational purposes.
Two previous auction attempts failed, including one disqualified bidder and a second round with no participants. The municipal council is now reviewing the ordinance that would enable the new sale process to move forward.
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