Peru – Chilean operator buys two slot halls in PeruBy Phil - 25 September 2013
A Chilean casino operator has announced that it has bought the license for two slot parlours in Peru for U.S$3.8m.
Casinos Dreams S.A has acquired (through its Peruvian affiliates Dreams Gaming S.A.C. and Dreams Corporation S.A.C.) a ten-year license to run the slot machine parlours “El Eden” and “Mirasol” both located in capital, Lima. Combined, both parlours house 340 slot machines. The operation will go ahead if the Peruvian authorities have given the green light to the deal, which according to Dreams, should occur within the next few weeks. It is believed that the acquisitions are part of a larger expansion of Casinos Dreams S.A as it seeks to expand its operations abroad.
Peru is becoming an increasingly bright spot for the Latin American gaming industry where slot parlours and casinos have been permitted since 1994. Previously slot machines had only been permitted in cinemas but after the act was passed slot parlours and casinos began to grow at a fast pace. However the vast majority of operators did not register with the government.
In 2006 after a huge growth in illegal gaming the Peruvian government passed the “Reordering and Formalization of Casino and Slot Machines Law.” The law has been instrumental in allowing the government to create a regulated gaming sector. Today gaming in Peru is controlled and monitored by the Department of Foreign Trade and Tourism (MINCETUR). Tax income generated by the industry has increased more than threefold since 2007 and there are now 70,000 slot machines in 688 slot parlours and12 casinos that operate throughout the nation.