The expansion is part of a merger between South African Sun International and Chilean Dreams.
South Africa.- Sun Dreams is closer to its plans to expand its business in Latin America after a new US$150 million loan has been accepted. BBVA, BCI, Banco Estado and Bando de Chile Banks are the entities that will loan the money.
The money is supposed to help the company in refinancing the financial liabilities and extending the 4 years term of its debt to 10. By getting this loan, Sun Dreams will be able to strengthen its financial structure and address future projects. Sun Dreams is the product of a merger between the South African company Sun International and Chilean enterprise Dreams.
Earlier this year, the companies merged into Sun Dreams after the Panamanian Gaming Control Board finalised the operation. Sun International currently operates the Monticello in Chile, a project in Colombia that it’s currently under construction and soon to be finished, and the Ocean Sun Casino in Panama City. The merger allowed the companies to expand the presence and become the largest gaming company in Latin America.
With the US$150 million loan, Sun Dreams will continue to expand its business in the region. The company currently has 13 facilities in four different countries with approximately 6650 slot machines.