Sun International seeks for Brazilian market
Brazil has been keeping the global gaming industry on tenterhooks for its expected legalisation.
Brazil.- Sun International, South African second-leader casino operator, is expanding its business through Latin America with a recent deal with Dreams SA, Chilean owners of luxury casinos in several regions. Both companies share their priority target: land in the Brazilian emerging market, once the national government approves the legalisation of the gaming industry.
“The deal is a milestone. It gives the company great opportunities to achieve scale and reach outside Africa and diversify earnings and risk,” explained Graeme Stephens, chief executive of Sun International. However, the casino brand already operates successful businesses in Latin America, with gaming venues in Chile, Colombia and Panama. “To achieve critical mass in Latin America, we decided back in 2013 that we needed to make acquisitions or merge our assets with another meaningful player in the region,” added Stephens.
Whilst Sun expects to grow its Latin American presence –the company calculated that its incomes will come 70 percent from Africa and 30 percent from Latin America–, Dreams aims at expanding the fancy experience to Peru, Mexico and, the promise land, Brazil. Dreams already operates six casinos in Chile and four in Peru, meaning over 300 gaming tables and 7,000 slot machines.
