Uruguay’s Enjoy Casino in Punta del Este has been put up for sale by its Chilean group owners. Although Enjoy‘s headquarters always denied the idea of getting rid of the well-known Uruguayan establishment, the current situation marked by sustained losses in the first quarter of the year led to the decision to sell.
The sale was entrusted by Enjoy to Asset Chile, an investment firm led by Georges de Bourguignon, who has already contacted local and foreign investors to offer the casino property.
Asset has not yet declared any price, but it is estimated that Enjoy will seek to recover at least part of the investment. In 2013 they invested $139 million to own 45% of the casino, buying the rest in 2017 for $189 million.
After the failed merger with Dreams, the Chilean group proposed a financial reorganization to contemplate future plans, which would be focused on a strategy that would allow them to resume the profitability of their business. The company emphasized that “it is always analyzing new business alternatives both in Chile and in other markets, not ruling out a possible partnership or sale of assets as one of the possible alternatives”.
In this regard, the group had already proposed to divest 53% of its stake in the operating company of the gaming casino in the city of Mendoza.
Original article: https://www.yogonet.com/international/news/2023/07/31/68109-enjoy-to-sell-uruguay-39s-punta-del-este-casino-as-part-of-financial-reorganization
