Clairvest Group is planning to invest US$16m in acquiring 50 per cent ownership in the Plaza Sol de Los Lagos casino currently being built in Osorno, Chile.
Although it has made joint investments in casinos elsewhere in Chile and also in Canada, this would be a Clairvest-only investment. The city of Osorno has a population of 150,000 and the surrounding region within 30km has a population of 350,000. It is a popular holiday area and is near a border crossing to Argentina.
The casino will have 300 slot machines and 20 table games and is expected to open by the end of this year. The Chilean Government has granted it a monopoly licence for a minimum of 15 years for the city and surrounding area. An adjacent project will house a hotel, event halls, recreational facilities and retail stores.
In undertaking the Osorno project, Clairvest will enter a partnership with Latin Gaming, an existing casino operator with much gaming experience across Latin America.
