Necochea moved forward on September 7, 2026 with the recovery of its historic Casino Complex, after A Toda Vela Mar S.A., linked to businessman Oscar Merlo, began developing technical plans for a new gaming hall, the refurbishment of existing areas, food and beverage spaces, and a potential hotel development.
The company acquired plots A, B1, B2, B2.1 and B2.2 at the June 10, 2026 auction for AR$4.878 billion, approximately US$3.3 million at the exchange rate cited at the time. Merlo was the only qualified bidder and submitted an offer matching the reserve price.
Mayor Arturo Rojas
The transaction was formally approved by Mayor Arturo Rojas through Decree No. 1958/26 dated June 19, which approved the sale and purchase agreement. A Toda Vela Mar had paid AR$487.8 million, equivalent to 10% of the purchase price, plus AR$29.27 million in stamp duties. Auctioneer Sandra Mariana Ortega received a commission of AR$146.34 million plus AR$30.73 million in VAT.
The company had also provided a AR$975.6 million bid guarantee, equivalent to 20% of the reserve price. In August, it formally took possession of the properties, allowing conservation, maintenance and restoration work under Ordinance No. 12.009/25.
For the gaming operation, Merlo announced a strategic alliance with Casinos Victoria, although the future gaming hall still requires approvals and no definitive provincial gaming licence has been publicly issued. Casino activity falls under the Buenos Aires Provincial Institute of Lotteries and Casinos, chaired by Gonzalo Atanasof.
The Teatro Auditórium was excluded from the sale. Banco Provincia valued it at AR$575.7 million, with an auction reserve price of AR$383.82 million. On September 4, Sergio Gertie was selected by public draw as auctioneer for that process. The complex, located between Avenida 2, Avenida 91 and Calle 4, went through decades of failed redevelopment projects and a fire at the Auditórium in 2020. The municipality says the recovery will be carried out in phases, backed by private investment and job creation.
