Gaming and hotel giant Sun International has raised its stake in the Latin American gaming sector. On Tuesday, it announced it would acquire Entretenimientos Del Sur Limitada’s (EDS’s) 19.625% shareholding in Sun Dreams for $63m (R820m). Sun Dreams has operations across Chile, Panama, Peru and Colombia, and is ranked as the biggest casino player in Latin America with 13 properties hosting 6,500 slot machines, 300 table games, six hotels and 25 restaurants. The deal was struck in conjunction with casino group Nueva Inversiones Pacifico Sur Limitada (Pacifico), and pushes Sun International’s stake in Sun Dreams from 54.9% to 64.9%. This transaction follows an agreement reached with EDS — a subsidiary of emerging market asset manager The Rohatyn Group — after it had indicated to Sun International that it wanted Sun Dreams to pursue a listing on a Latin American bourse. Instead of proceeding with an initial public offering (IPO), Sun International and Pacifico opted to each acquire 50% ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.