Sun International bets on Latin America to boost revenue
Sun International plans to expand in Peru and enter the Brazilian market after merging with Chile’s Dreams SA, its CE said, as the gaming and hotel operator bet on Latin America to offset slow growth at home. Stiff competition, fewer casino licenses for which to bid and consumers feeling the pinch in SA have pushed the gaming group to broaden its horizons to Latin America. Sun, which pushed deeper into Latin America with its merger with Chile’s Dreams SA in June and holds 55% of the merged entity, is banking on its expansion in the casino and gambling sector to boost revenue. CE Graeme Stephens, who steps down in April, said the firm would bid for more casino licences in Chile next year after its merger with Dreams SA, which has a portfolio of hotels, casinos and restaurants. "Plans are well advanced to expand in the region. We have plans for expansion in Peru and further down the line Brazil seems to be opening up to licensed casinos," said Stephens. He did not give any financial d...
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