Chilean Casino Gambles on Uruguay

Chilean Casino Gambles on Uruguay

Chile M&A

Chilean casino and hotel operator Enjoy has agreed to acquire 45% of Baluma, a subsidiary of Caesars operating the Conrad Punta Del Este Resort in Uruguay, for $139.5m in cash and stock. In the deal, US-based Caesars gets shares equal to a 10% position in Enjoy, to be issued through a capital raise held before the deal closes. Enjoy may also, between years three and five, acquire the rest of Baluma. Caesars will also nominate an Enjoy board member. Caesars extended Conrad’s gaming license throug

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