Conrad Punta del Este Gambles On Multi-Million Dollar Renovation

Patrick Archer foreign investment, hotels & casinos, lifestyle, real estate, tourism, uruguay, us companies

The best known casino in the Southern Cone is embarking on a US$20 million renovation in hopes of luring more high rollers from other corners of South America now that the economy is slowing, inflation is rising and the real is weakening in Brazil. Chile’s Enjoy acquired a 45% stake in the Conrad Resort & Casino Punta del Este late …

Chile’s Enjoy Acquires 45% Stake In Conrad Punta del Este

Patrick Archer arts & entertainment, aruba, foreign investment, hotels & casinos, lifestyle, tourism, uruguay

Casinos are big business in Uruguay, and the cash flow in the country’s most lucrative casino proved to be irresistible for one of Chile’s largest gaming companies. Santiago-based Enjoy will pay US$139.52 million to acquire a 45% ownership stake in the Conrad Punta del Este and assume control of the five-star casino currently run by Caesars Entertainment. The agreement gives …