Peruvian firm Sagsa analyzes to invest in Chilean casinos

Chile Casino Superintendence (SCJ) informed, in its executive report, that "executives asked the superintendent about the procedure that SCJ uses in Chile in order to solve aspects with regards to requests and changes in the society”. The institution commented that the requests of changes in societies only can be made before SCJ by operating societies.

"During the prequalification stage, SCJ determines the suitability of the shareholders, legal entities that count with a 5% or more direct or indirect participation in the societary chain; identifies is the origin of capitals that will be brought to the operating society are licit; and evaluates the proficiency and availability of the funds to enter to the ownership of the operating society”, explained the superintendent to the committee of Sagsa, with the participation of Luis Lam, general manager, Max Harris, Manager of Operations and Oscar Medina, lawyer of the company.

Sagsa is a well known Peruvian casino operator, with more than 40 casinos in Latin America and the Caribbean. The firm is leaded by Peruvian businessman Alan Azizollahoff, who is also owner of other entertainment companies in the country.

Sagsa concentrates its operations in Lima, where it operates 19 casinos and 11 in different provinces in the country, under the brands of casinos Fortuna and Royale, among others. Besides, it comercialices slots and electronic roulettes for these venues. One of its most luxurious casinos is Delfines –that has a five-star hotel with the same name, located in San Isidro area, one of the most exclusive neighbourhoods in Lima.

One of the candidates for Sagsa arrival in Chile would be Casino de Rinconada, operated by Salguero Hotels, 100% owned by Colombian investor Carlos Salguero. The society that operates this casino in the V Region in Chile, had shown its aim to enter the Canadian group

Clairvest –present in Marina del Sol in Talcahuano- to its property. However, last November none of the societies performed the business. "This decision was taken as a consequence of not having agreed the commercial terms of the association with such Canadian group”, pointed Iván Mesías, general manager of Salguero Hotels Chile.