运营商新闻
Uruguay- Enjoy announces record profits
By 菲尔 -24年2014月XNUMX日
Latin American operator Enjoy has announced its results for 2013 and revealed record profits.
Reporting to the Superintendence of Securities and Insurance, Enjoy’s financial results for the financial year 2013, showed an unprecedented profit of US$25m. In May 2013 the Uruguayan government approved a deal where the operator of the Conrad hotel and casino in Uruguay switched from Baluma SA to Enjoy SA meaning that Enjoy took control over the Conrad. The deal was first announced in November 2012.
After the results were announced Chief Financial Ignacio de la Cuadra said: “In 2013 we achieved a significant consolidation with the purchase of Conrad, where Enjoy
saw a good business and investment opportunity which has resulted in us achieving a profit of $13.769m (around US$25m). In addition, the company made changes to its structure that has meant a significant cost reduction as well as savings.”
According to the terms of the Conrad deal Enjoy acquired 45 per cent of Baluma S.A., the Caesars subsidiary which owned and operated the Conrad Punta Del Este Resort and Casino in Punta Del Este, Uruguay for US$139.5m in cash and stock and Caesars became a shareholder in Enjoy. Under the agreement Caesars and Enjoy both cooperate on marketing and player development. In three to five years’ time Enjoy will be given the option to acquire the remaining stake in Baluma S.A.
Enjoy S.A. is the leading casino resort operator in Chile. As well as the Conrad the company operates a chain of eight casinos with 5,718 slot machines and 265 gaming tables and operates one casino in Argentina. According to the report submitted to the Superintendence of Securities and Insurance the Conrad deal has meant that the company’s assets have increased by 64 per cent while the company’s revenues have increased by 9.9 per cent.
