Dreams to sell four casinos in Peru to Cirsa
The Chilean casino operator Dreams has revealed that it has reached an agreement to sell four of its casinos in Peru to Cirsa Enterprises SA. According to details provided by Dreams, the sale involves three casinos in Lima and a fourth located in Cusco.
In a disclosure sent to the Commission for the Financial Market (CMF), the company detailed that its Peruvian subsidiaries, Dreams Corporation, Casinos Primavera, and Dreams Gaming, “agreed to sell to Gaming and Services, a Peruvian subsidiary of the Spanish company Cirsa Enterprises, all shares in the companies Sun Nippon Company, Recreativos El Galeón, and Dreams New York.”
These companies operate the New York casino, located in the Magdalena del Mar district of Lima; the Luxor casino located in the Surco district of Lima; the Pachanga casino located in the San Borja district of Lima and the Mystic casino, located in the city of Cusco.
Additionally, the Chilean operator decided to retain only two casinos in Peru: Pachanga Independencia and Fiesta.
Although the sale of the four casinos from Dreams in Peru to Cirsa still needs to be approved by the relevant authorities, the Chilean company confirmed that the value of the deal “amounts to approximately US$ 18 million.” However, the Chilean operator clarified that the price “may experience changes due to stipulated adjustments.”
While Dreams acknowledged that the sale would have “an immaterial effect on the consolidated net result” by 2025, they did not specify what the amount would be.
