Sun Dreams has announced that it will invest US$250m in the Peruvian market. The money will be used to improve its operations in Peru and be used to invest in a new Las Vegas style casino in capital Lima. General Manager of Dreams Peru Martín Dávila, said that the new casino will offer something new to the local market.
“We are being inspired by the experience that Las Vegas casinos deliver and that we already offer in Chile,” he said. The decision to invest in Peru was made, he said, due to the clear regulatory framework already in place in Peru and the fact that Peru is one of the best performing economies in Latin America. According to the regulatory body, which is part of the Department of Foreign Trade and Tourism (MINCETUR), the draft project of the new proposal includes a casino, a hotel and an arena entertainment complex.
Head of MINCETUR Manuel San Román, said that the new casino could have around 1,000 slot machines, a 250 room capacity hotel and a car park with space for up 1,500 cars.
Peru has seen one of the most remarkable success stories in the Latin American gaming market in the last ten years. Thanks to the efforts of the gaming board the gaming landscape in Peru has changed from a situation where less than four per cent of gaming operations were regulated by the government to a situation where illegal gaming has all been eradicated and where all slot machine transactions are monitored and in real time by a central government-controlled server. Today Peru now has 718 slot parlours and 17 casinos.
The company has already seen good results from its operations in Peru. Sun Dreams already operates two casinos and two slot parlours in Peru. Before the merger in March Dreams recorded a net profit of $10.4bn (Chilean pesos) an increase of 15 per cent compared to 2015 due in part to the launch of new casinos in the region. Dreams and Sun International finalised the merger between both companies creating Latin America’s largest gaming operator in September 2015. The merger will create a group valued at around US$400m.