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January 7 - Last month (December 7, 2007), large South African hotel and leisure
group, Sun International, received approval from the Chilean gambling regulator,
the Superintendencia de Casinos de Juego, to buy a 40 percent share in Chilean
casino license holder, San Francisco Investment.
Its share of San Francisco Investment - which boasts a 15-year casino license to
operate casinos in Chile - plus construction costs of a new casino and
family entertainment centre near Chile's capital city, Santiago, is expected to
cost Sun International a total of approximately $200 million.
The state-of-the-art casino will feature 80 table games, a 400-seat bingo hall
and over 1500 slot machines, along with an impressive 155-room hotel, a fully
decked out pool and spa facility, a 1800-seat conference centre, as well as
various other sporting and entertainment amenities and facilities.
Sun International has projected that the first stage of construction will get
underway in Chile by October of this year. Said Sun International Chief
Executive, David Coutts-Trotter, after news of the deal broke, 'The total built
area at the site will thus grow by about 50 percent which will result in an
increase in the overall investment in the Mostazal region.'
Sun International boasts a total enterprise value of $2.8 billion and a market
capitalisation of $2.2 billion.
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