Tag Archives: Sun International
Latin America – Dreams and Sun complete merger with Panama approval
The Panamanian Gaming Control Board has approved the merger between Dreams and Sun International. When making the announcement the newly formed company announced that the current shareholders of Sun International Dreams would share the property with about 50 per cent each. Immediately after the merger, both sides agreed that Sun International would acquire a greater…
Peru – Sun and Dreams look to Peru for expansion
Sun and Dreams plan on investing US300m in Latin America the lion’s share of which could be invested in Peru according to corporate finance manager of Dreams Claudio Tessada. Speaking to local newspaper Diario Financiero he said that the three primary markets for the company will be Brazil, Peru and Chile but the main focus…
Chile – Chile’s Gaming Board approves Dreams and Sun merger
Chile’s Gaming Board has approved the merger between Dreams and Sun International. 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. Jaime Wilhelm, General Manager of Dreams, said: “The Gaming Board has decided to approve…
South Africa – Tsogo back with bid for share in Sunwest
South African operator Tsogo Sun has announced its intention to buy a 20 per cent interest in Sunwest International and Worcester Casino for R1.3bn from Sun International, in the Western Cape. The move comes a year after the competition authorities halted Tsogo Sun’s plans to takeover Sun International. It will allow Sun International to remain…
South Africa – Domestic casinos diminish Sun’s rise
South African operator Sun International saw a 19 per cent fall in half-year profit, for the six months to the end of December, citing poor economic conditions in South Africa which gave flat casino revenue growth. Overall revenue of R5.8bn for the period ended 31 December 2015 was 10.3 per cent ahead of the period…
Latin America – Sun International and Dreams move to consolidate operations
The consolidation process of operations between the merged Chilean companies Dreams with South African Sun International will start in November or December this year. The consolidation process will run for about a year in the first period in which the company will invest up to US$10m for, among other things, systems development and the unification…
Cyprus – Five operators named so far in Cyprus tender
Six major firms from the US, Malaysia, South Africa, Cambodia and France have officially lodged their interest in bidding for the licence to build and operate a casino resort in Cyprus. Government sources in Cyprus have confirmed that five of the six operators include Genting, Hard Rock, Sun International, NagaCorp and Bouygues from France. Each…
Latin America – Deal between Sun International and Dreams moves forward
Dreams and Sun International have finalised the merger between both companies creating Latin America’s largest gaming operator. The transaction is subject to approval of the competent authorities, both in Chile and in South Africa. If approved the merger will create a group valued at around US$400m. The Latin American operations of Sun International, including Monticello…
Chile- Monticello investment boosts Sun’s full year results
Improved revenue in South Africa and Chile helped Sun International post increased revenue of 5.8 per cent to R10.6bn for the full year. These were in line with the company’s medium term strategic objectives, which are to improve operational performance, maximise the potential within its existing assets and grow its business into new areas and…
