CR88-p88-89-business3-4:SJC-Casino Review 21/1/10 18:30 Page 2
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Citigroup approved for Chile investment
The Chilean Superintendent of Casinos has approved the
involvement of Citigroup in the Fischer Group, the operator of four
casinos under the Dreams brand, including the successful Casino
Dreams Valdivia (pictured). The American banking corporation will
take a 41 per cent stake valued at around US$88.5m (E61m)
through a subsidiary. The thorough vetting process began in August
last year.
Revenues roll in to
Chilean casinos
The effectiveness of the regulatory regime in effect in Chile since 2007 is underlined by
solid revenue earnings across the country in the last year with some venues achieving
extraordinary results.
bigmarkers In November alone, the Novomatic. casino operates 347 slot
CHILE venues generated $23.7m In Punta Arenas, Chile’s machines and 20 tables.
(E16.3m) and welcomed most southerly city, the General manager John
The 15 casinos now more than 368,000 Casino Dreams is making a Mattson said: “Last year
operating under the new visitors, who spent around noticeable contribution to exceeded our
Chilean gaming $65.2 (E45) each. Month both the municipality and expectations. The truth is
regulations together to month, November took the regional government. that the results we had
posted revenues of 1.5 per cent more than The venue pays ten per were a long way above
US$195m (E134.6m) for October but visitor cent of its gross gaming what we’d hoped for.”
the 11 months to the end numbers were down revenue to the city and to The forecast for 2010 is
of November, the almost 12 per cent. the government of the for an even better return
Superintendent of Casinos The biggest earner by Magellan region. In 2009 it with the contributions
has reported. The figures far is Monticello Grand handed over about expected to amount to
mean they will easily Casino, which saw gross CH$600m - or around US$1.5m (E1m) for each
breach the $200m barrier gaming revenues of just US$1.2m (E828,000) - body.
for the full year, given the over $8m (E5.5m) - more each to the region and to
revenue earning than a third of the national Punta Arenas, a significant
Casino Dreams Punta Arenas
opportunities presented total. Monticello is a joint additional sum for a city
is a significant contributor to
by Christmas, the New venture between IGGR, with a population of
the coffers of both the city
and the regional government
Year and summer trade. Sun International and around 130,000. The
February 2010 • businessnews 89
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