Global gaming operators and investors may soon find a long-awaited opportunity in South America, as Ecuador’s President Daniel Noboa has officially included a proposal to reauthorize casinos in five-star hotels as part of a new nationwide referendum slated for December 2025.
The proposal—part of a seven-question referendum package revealed on August 5—aims to reverse the 2011 national ban on casinos and slot operations, which forced all legal gambling venues to close. Noboa argues that the original ban, implemented via a popular vote under former president Rafael Correa, led to the destruction of over 250,000 jobs, particularly in the tourism and hospitality sectors.
Under the new proposal, casinos would only be permitted within five-star hotels, creating a clear regulatory limitation intended to align with tourism development and minimize social backlash. Additionally, the president has pledged to earmark 25% of gross gaming revenue for child malnutrition and social programs, positioning the initiative as both pro-business and socially responsible.
The plan has yet to be formally submitted to the Constitutional Court, which must approve all referendum questions before they can appear on the ballot. However, analysts believe the casino question—absent in previous versions of Noboa’s referendum proposals—has been timed strategically amid rising tourism figures and growing fiscal needs.
Plebiscite in Ecuador we will see, Casinos too.
International investors familiar with Latin American gaming markets view Ecuador as a sleeping opportunity—a dollarized economy with untapped tourism corridors, strong regional airline connectivity, and favorable investor sentiment under Noboa’s administration. The president’s pro-market tone and repeated references to private capital partnerships have been welcomed by the hotel, resort, and gaming investment community.
If approved, Ecuador would join a growing list of LATAM countries—including Argentina, Colombia, Chile, and most recently Brazil—that are either expanding or reopening regulated gaming channels. Unlike jurisdictions that require licensing from scratch, Ecuador already has legacy infrastructure and professional talent that could reboot quickly if the constitutional framework is reinstated.
The referendum will include broader political reforms as well, including questions on reducing the size of Congress, allowing foreign military cooperation, and overhauling judicial checks.
For global operators monitoring the region, Ecuador’s signal is clear: the door is reopening, and first movers could benefit from years of pent-up demand and minimal domestic competition.
