Property valued at $27.8M
The casino resort and hotel company Sun Dreams has signed an agreement to buy all the shares of the Argentine company Nuevo Plaza Hotel Mendoza S.A., which owns and operates the Park Hyatt Mendoza, a casino resort in the Argentinian province. The property includes 186 rooms, 648 machines and 19 gaming tables, reported Games Magazine Brasil. The casino operates under a provincial concession that extends until 2033 and may then be renewed until 2038.
The US$27.8 million deal is part of a plan by the South African-Chilean company to grow in Latin America, said Sun Dreams CEO Jaime Wilhelm.
“The objective of the company is to position itself in a scenario that has broad concessions and adequate regulation at the provincial level and transparency in the industry, which allows us to project ourselves in the long term with very good prospects,” he said. “Sun Dreams is proud to have this luxury format, the highest level of the Hyatt chain worldwide.”
The company already has a presence in Chile, Peru, Colombia and Panama, reported Games.
Also in Argentina, only three firms will compete to operate casinos in Buenos Aires. Eight firms including international operators were originally interested and seven companies prepared to bid, but the field dwindled to a trio of national groups: Boldt, Oasis Entertainment and Casino Victoria. They will participate in the tender to operate 3,860 slot machines from seven casinos in the province.
