After the transaction, the company will be comprised of the seven Sun Dreams casinos in Chile: Iquique, Mostazal (Sun Monticello), Temuco, Valdivia, Puerto Varas - although this operation will be taken over by Enjoy after winning it in 2018-, Coyhaique and Punta Arenas, plus the three plazas of Marina del Sol in Calama, Talcahuano and Osorno, next to the new Chillán complex that will open soon.
To this union are added the 8 licenses that Sun Dreams has in Peru and another in Mendoza, Argentina, in addition to the operations of casinos that it has in Colombia.
It is estimated that the business will materialize during this year. To do this, it must first comply with some regulatory issues, including obtaining the approval of the National Economic Prosecutor's Office (FNE).
Once the merger is completed, an opening in the stock market is among the plans of the resulting company. This was confirmed by Nicolás Imschenetzky, president of Marina del Sol, who pointed out that "obviously we are pursuing an IPO in the short term."
The money raised would be used to finance the expansions. In fact, it was always in Marina del Sol's plans to grow towards Peru and other countries in the region.
"The merged entity will have a critical mass that will allow it to expand and finance both new larger-scale projects and possible future acquisitions in the context of the gaming industry in South America, with Chile as the main platform," the parties reported to the Commission for the Financial Market (CMF).
The merger agreement is subject to a due diligence process. If the merger is completed, the current shareholders of Sun Dreams will have a 64% share in the combined company, while Clairvest and Marina del Sol, together, will have the remaining 36%.
Once operating, the merged group will have 10 of the 26 existing casinos in Chile. His rival, Enjoy, will keep nine.
According to an internal statement that the companies sent to their staff, the resulting firm will have approximately 5,800 workers, 10,500 gaming machines, 450 gaming tables and an offer of almost a thousand hotel rooms, without considering the new project in Chillán.
Source: GMB / La Tercera (Chile)
