Published
Mergers & Acquisitions

Sun International raises stake in Latin America Sun Dreams

Sout

Sunny
h Africa’s Sun International is set to boost its stake in Chilean casino operator Sun Dreams to almost 65%.

According to a report from Reuters, Sun International has agreed a deal that will see its subsidiary, Sun Latam, partner with stakeholder Nueva Inversiones Pacifico Sur Limitada (Pacifico) in order to purchase a 19.3% share of Sun Dreams from Chile’s Entretenimientos Del Sur Limitada (EDS).

Sun Latam will pay $63m for its half of the stake, raising its share of Sun Dreams from 55% to 65%. Pacifico’s stake will increase to 35%.

“We have established a great partnership with Sun International and with our common interest in growing the business we look forward to a long and successful partnership”, read a statement from Claudio Fisher, Chief Executive Officer for Pacifico.

In addition to its African resorts, Sun International operates casinos and hotels in a number of Latin American countries, including Chile, Panama and Colombia.

Anthony Leeming, Chief Executive Officer at Sun International, added: “In line with our stated intentions, we will continue to explore all viable opportunities for expansion in the region. These include Peru as well as Brazil where licensed casinos may be introduced. The Chilean economy, although still experiencing low gross domestic product growth, is showing signs of improvement with low inflation and interest rates.”

LATAM News Sponsor
Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium Connections
Consultancy
Executive Profiles
Chicken Ranch Casino
The Responsible Gambling Affiliate Association (RGAA)
Catena Media
Gambling Commission
Follow Us
The most prestigious Awards in the industry are heading to the Philippines! The Global Gaming Awards Asia-Pacific will recognise and reward (as the name suggests) the strongest performers from the Asia-Pacific gaming industry across the previous 12 months.
This year's winners will be announced at a luncheon ceremony on Day 2 of SiGMA Asia, 4th June, in Manila.
The eleventh annual Global Gaming Awards Americas will recognize and reward the gaming industry's strongest performers across the previous 12 months. These are the most prestigious and trusted Awards in the industry and have gained respect amongst industry heavyweights, due to the strict rules and procedures put in place.

Facing Facts: Operator Q3s from across the globe

Gambling Insider compares Q3 2023 results from major gamblin...

Taking Stock: Operators and suppliers across the world

Sticking with our theme of gambling across the globe, Gambli...

CEO Special: Jade Entertainment and Gaming CEO Joe Pisano - down to earth

Jade Entertainment and Gaming CEO Joe Pisano speaks to Gambl...

CEO Special: Betfred CEO Joanne Whittaker - saying it as it is

Betfred CEO Joanne Whittaker joins Gambling Insider Editor T...