Peru is emerging as a prime territory.
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Peru is catching the attention of foreign casino operators and suppliers looking to broaden their scope in Latin America thanks to its buoyant economy and clear regulations.
Chile’s Dreams bought Peru’s third-largest casino, the Casino New York, in a deal worth $24m in late 2012 while Spain’s Grupo Egasa opened its first premises in the Andean country in March.
Dreams has since acquired two more gaming halls in the coastal capital of Lima and both companies say further expansion is possible as they seek to boost earnings and spread risk beyond their main domestic markets.
“The Peruvian market is one that combines adequate legislation on gaming, real respect for the law and great potential for growth,” Dreams’ chief finance officer Claudio Tessada told InterGaming.
“We’re confident the portfolio of projects in Peru will have a positive impact on our results,” he said.
On the manufacturing side too, increased demand from casinos and slot parlours has spurred local entrepreneurs to set up new businesses.
“I’ve worked in this field in Peru since 1995 and over the years we were seeing more and more slot premises. That’s how the idea to open a slot machine factory was born,” said Antonio Castro, general manager at home-grown slot manufacturer Xploxion.
The company, which employs 12 people, started operating in 2010 and is currently involved in talks to branch out into Chile, Colombia and Panama.
“The market is expanding every year, which means we’ve got more and more opportunities to innovate,” Castro said.
Read the full article in the November issue of InterGaming.
