Almost no country has been immune to the effects of coronavirus, and Chile is no exception, its economy has been affected by the global pandemic and its casinos are experiencing an uptick, as are those around the world. While the next 12 months will bring many adjustments in the gaming industry through acquisitions and sales of layoffs, Chile’s two largest casino operators, Enjoy and Sun Dreams, have also stagnated. you can create a plan.
Enjoy, founded in Santiago de Chile, announced through a securities deposit that its creditors are willing to donate $73. 3 million as part of a debt restructuring plan, the cash will be delivered through foreign bonistas, which will cover approximately $11. 97 million, and local investors. Enjoy filed for bankruptcy last April after COVID, with $63. 7 million for a bridge loan to ease tension. The purpose of the plan is to give you time to draft and approve a debt restructuring agreement. -19 forced its operations in Chile, Argentina and Uruguay to close a month earlier.
Sun International, which is headquartered in South Africa, is Sun Dreams, Chile’s largest gaming operator, owns 65% of the corporation and agreed to sell its stake in New Investments South Pacific for $160 million. Sole owner, the investment fund now controls one hundred percent of the corporate.
Sun International has been looking for a client for its participation for several months and, prior to its agreement with South Pacific, had almost signed a similar agreement with Marina del Sol, a Chilean casino operator owned by a joint venture between Canada. the personal equity corporation Clairvest Group and the Chilean real estate corporation Empresas Valmar. With homes in Argentina, Chile, Colombia, Panama and Peru, Sun International had a lot at stake before the impact of COVID-19 and therefore has a lot to lose. it also has a giant footprint, and acts as a major investor in everything from agriculture to genuine property development.
South Pacific is in a position to deal with demanding situations and has the monetary assistance for Sun Dreams to move forward. Its CEO, Claudio Fischer, said in a statement that the company’s “strong monetary position” allowed him to “seize opportunities for expansion. “in a company “that was familiar to him. He added that the hotel and casino industries were badly affected, but South Pacific was able to weather the typhoon with relative stability.
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