Another South African gaming group has its eyes fixed on Chile. Just like Sun International, which entered a joint venture in Casino Monticello in San Francisco de Mostazal, Gold Reef Resorts (GRR) is observing the new gaming industry in Chile. The intentions of the group are serious and on 10 December the company's project manager met with the Superintendent of Gaming, Francisco Leiva, to find out about Chile's gaming industry. CEO Steve Joffe, COO Christian Neuberger and GM Steve Hight, together with lawyer Sergio Diaz representing the group in Chile and associate Diez Perez Cotapos consulted about procedures and regulations for changes in casino ownership.

From South Africa Neuberger confirmed GRR's interest in Chile's gaming industry. In fact the company was negotiating for nearly eighteen months with the Imschenetzky family for a joint venture in the casino Marina del Sol in Talcahuano without success. The COO stated, "There were many factors to consider and at that time we could not reach an agreement."

Without divulging more details, Neuberger said GRR is now negotiating participation in a casino in Chile. It is thought that the casino in question could be Rinconada in V Region, which belongs to the group Salguero Hotels. The general manager of the casino, Ivan Mesias, admitted that negotiations with the South Africans had taken place some time ago (and also with the Canadian company Clairvest, which later bought into Marina del Sol) although he denied negotiations were continuing. Neuberger was more ambiguous when asked: "Maybe yes, maybe no. I cannot reveal what we are planning at this point."

However, he added that if GRR does do something it will probably be in mid-January and the company's entry into the Chilean gaming market would be with local partners. The South Africans feel that the market in Chile is very similar to that in South Africa and very well regulated. Casinos are close to urban areas and built on a similar model. Also, opportunities in South Africa are now limited for expansion and GGR is looking for new frontiers. (E-12.23.08)

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