In Argentina, a group of businessmen from the gaming sector is negotiating with the government of Javier Milei the signing of a decree that would transfer the jurisdiction of casino boats and the Palermo Hippodrome from the City of Buenos Aires to the national State. The operation, if it materializes, would have millionaire fiscal consequences for the Buenos Aires administration and would radically modify the conditions under which these concessions operate.
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Who is pushing for the transfer and how negotiations have progressed
The main drivers of this initiative are Ricardo Benedicto, Manuel Lao, and Federico de Achával, three prominent figures in the gaming business in Argentina. According to sector sources, they initially held meetings with Santiago Caputo, who reportedly pushed for the drafting of a decree. Faced with internal tensions within the ruling party, the businessmen expanded their network of contacts and began negotiating with Martín and Lule Menem, figures close to Karina Milei.
The direct precedent for this maneuver is the decree signed by Mauricio Macri in 2016, when he transferred gambling to the Buenos Aires jurisdiction based on the City’s autonomy and Supreme Court jurisprudence.
The origin of casino boats and the problem of expired concessions
Casino boats originated from a tender launched during Carlos Menem’s presidency, which granted operating permits to two floating casinos for a period of 25 years. The vessels “Estrella de la Fortuna” and “Princess” navigated through legal back-and-forth that included the transfer of jurisdiction between the Nation and the City, and precautionary measures issued during the pandemic. However, since 2019, both have been operating with expired concessions, protected only by these provisional judicial measures.
In March 2025, the Supreme Court revoked one of these precautionary measures, deeming the extension of the original contract “arbitrary,” and ordered the National Chamber of Appeals in Administrative Litigation to rule on another pending measure. Judicial uncertainty is one of the factors pushing businessmen to seek a political solution that guarantees operational continuity.
What businessmen gain from the change of jurisdiction
The transfer to the national sphere is not just an administrative move: behind it are concrete benefits for the concessionaires.
The first is fiscal. Currently, operators pay Gross Income Tax in the City of Buenos Aires. If jurisdiction passes to the Nation, that tax would disappear from the Buenos Aires equation.
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The second is economic. Before the transfer made by Macri, concessionaires retained 70% of the profits generated. After that transfer to the City, that percentage fell to 30%. A new decree could reverse that proportion or renegotiate it on more favorable terms for businessmen.
The third is contract extension. The Palermo Hippodrome contract expires in 2027. A change of jurisdiction would enable a new extension, which could also apply to the floating casino.
The impact on the finances of the City of Buenos Aires
From the perspective of the City government, the operation represents a direct threat to its revenue. According to official Buenos Aires sources, the transfer would imply losing billions of pesos monthly in concept of fees and Gross Income Tax, amounts that in the national scenario would become part of the federal co-participation distribution.
In this context, businessman Daniel Angelici is negotiating what the Buenos Aires environment calls an “indemnification”: economic compensation for the City in case the concessions effectively pass into the hands of the Nation.
A political dispute with strong interests at stake
The background of this negotiation goes beyond technicalities and is part of the struggle between the national government and the City of Buenos Aires for control of strategic resources. The possibility that a presidential decree is enough to modify jurisdiction is, at the same time, the attraction and the political risk of the operation: it avoids Congress, but exposes the Executive to a judicial battle and a conflict with the Buenos Aires government.
For now, there is no definitive judicial resolution on the pending precautionary measures nor a confirmed decree text. But the actors involved continue to move their pieces, aware that the outcome can redefine for decades who controls, regulates, and benefits from the gaming business in Buenos Aires.
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