Clairvest announces additional casino investment in Chile
The government of Chile has granted the casino a monopoly licence for a minimum of 15 years for the city of Calama and surrounding area.
The city of Calama is located in the heart of the Atacama Desert in northern Chile and has a permanent population of close to 150,000. The region accounts for a large portion of Chilean copper exports and is one of the most prosperous regions in the country.
"We are pleased to expand the relationship with our partners at Casino Sol Osorno, to now include Casino Sol Calama," said Jeff Parr, Co-Chief Executive Officer and Managing Director of Clairvest Group.
As part of the transaction, Latin Gaming Chile, the operator of Casino Sol Calama, repaid loans totalling us$ 13.8 million to a holding company (Chile Holdings) jointly owned by Clairvest and co-investors. Chile Holdings invested us$ 20 million for a 50% equity stake in Casino Sol Calama and also owns a 50% equity stake in two additional Chilean casinos, Casino Marina del Sol and Latin Gaming Osorno Clairvest Group and CEP III own a 36.8%, and 37.6% interest in Chile Holdings, respectively.
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