Whilst much gaming industry news is doom and gloom at the moment, one Canadian investment company is increasing its presence in the Chilean gaming market. Having recently acquired a 65%% stake in a casino development in Osorno and 50% in another in Talcahuano, Clairvest Group is now hoping to get regulatory approval for taking up a 51% participation in Rinconada. The Chilean casino regulatory body reports having received an application for the ownership change.

Last December Clairvest invested in the casino complex licensed in Talcahuano and in September announced its US$16 million investment in the Osorno resort. At that time Co-CEO Jeff Parr said, "This acquisition is part of Clairvest's strategy to build a substantial gaming and entertainment company in Chile. We continue to investigate other opportunities to augment this strategy." He quoted the company’s increasing confidence in the political and regulatory environment in Chile for its rising level of investment.

Salguero Hotels Chile S.A. in December 2006 obtained unanimous approval for its proposed casino resort in Rinconada in the Valparaiso region. The casino, by law, must be functioning by 29 August next year with the rest of the complex completed by 29 December 2010. The casino project will have 200 slot machines, a 200-seat bingo and 13 table games. The final entertainment area will include a 5-star 120-room hotel with spa and gymnasium, business centre, convention centre, pool, restaurants and bars, sports facilities including horse trekking, as well as a multifunctional theatre. (E-10.15.08)

© Copyright 2008 CasinoCompendium



>>> return to archives
>>> return to frontpage