Negotiations that would see the company responsible for the Casino Marina del Sol facility acquired around a 50% stake in the Sun Dreams SA firm have been definitely terminated. According to one report released by G3Newswire several days ago, the Sun Dream SA venture was founded back in 2015 via a business partnership between South American casino operator Dreams SA and South African Sun International Limited.

Since its inception, the joint venture has opened facilities in Panama, Peru, Columbia, and Chile. Revealed by the same news outlet, the Johannesburg-based Sun International Limited company holds around 64.94% stake in the Sun Dreams SA venue that is today the biggest casino company in Latin America. The company had been very much engaged in talks about possibly offloading a great portion of its shareholding in the company to the company responsible for the Casino Marina del Sol venue. However, the pair decided to suspend these negotiations back in November last year.

Sun International Limited

At the time, Sol Kerzner and South African Breweries joined forces and Sun International Limited was founded. Back 1983, the company operated thirty-five hotels which generated a massive income of $35 million. Later on, South African Breweries decided to split its interests into two ventures including Sun International and Southern Sun. The Sun International entity remained responsible for all of the hotel and casino facilities located in regions of South African independent homelands. Southern Sun retained the remaining hotels and casinos in South African while focusing more on the growing hotel market.

Today, the Sun International Limited company is responsible for luxury hotel and casino resorts across twenty destinations in four countries including The Federal Palace Hotel in Nigeria, the Lugogo Sun and Royal Swazi Spa venues in Swaziland, and twelve facilities located in South Africa including the Time Square Casino, Wild Coast Sun, The Boardwalk Casino and Entertainment World, Carnival City Casino and Entertainment World, Flamingo Casino, Naledi Sun, Sun City, and Meropa Casino and Entertainment World venues.

Negotiations Terminated in November

As previously mentioned, the Sun International Limited company is a resort casino and hotel chain venture originating from South Africa founded by So Kerzner who is best known for its luxurious Sun City Resort located in Rustenburg. The company specializes in entertainment, hospitality, and gaming and today it owns around 42.5% of the entire South African hotel and casino market. The company has been present in the industry since 1967 when it was established.

According to the G3Newswire outlet, the two companies suspended negotiations definitely back in November last year after not being able to reach any kind of agreement. It was reported that the two companies were not able to agree on certain points that were necessary in order to complete the transaction. In its post, the news outlet cited the El Mercurio and La Tercera local news outlet reports that the firms had not been able to exchange the documents which were mandatory to carry out tributary, legal and due diligence processes.

According to the reports, Sun International ltd made delays regarding the transactions related to Nueva Inversiones Pacifico Sur Limitada. The company made a statement for the press announcing that they will keep engaging in talks with Nueva Inversions regarding a proposed deal that would see them acquire 14.94% of the Sun Dreams SA.

Mohegan Gaming and Entertainment or for short MGE is a master developer as well as operator of premium fully integrated entertainment, hospitality and casino resorts. Its iconic property Mohegan Sun located in Uncasville, the state of Connecticut opened on the 12th of October in 1996. The facility has 364,000 square feet reserved only for casino gambling.

It is owned and operated by the Mohegan Tribe and it is located on two hundred and forty acres of the tribe’s reservation property alongside the Thames River banks. It is home to the Mohegan Sun Arena as well as to a Cabaret Theatre, Wolf Den as well as several function and meeting room areas, and retail shopping areas. The facility’s casino floor contains hundreds of slot machines, gaming tables for roulette, poker, blackjack, roulette, keno, baccarat, and Caribbean stud poker.
Mohegan Gaming and Entertainment also operates Inspire located in Incheon, South Korea while it acts as a manager of a number of integrated casino resorts in the United States including Pennsylvania, Washington, New Jersey, Connecticut, Louisiana as well as Northern Asia.

The Company Winning the Right to Run a Casino in Athens

When it comes to the company’s latest business successes, one of them is definitely winning the rights to construct and build a fully integrated casino resort within the seaside resort located on the Athens southern outskirts. This news came after a consortium led by Mohegan Gaming and Entertainment was held in Greece.

According to a report by G3Newswire, the major gaming authority in the country, the Hellenic Gaming Commission stated that it had granted the USA-based company Inspire Athens with a thirty-year license which allows it to bring a new casino resort to the former site of the Ellinikon International Airport. According to the same news outlet, the Mohegan Gaming and Entertainment company will now invest a minimum of $33.4 million in a business partnership with GEK Terna which is a Greek construction enterprise to construct a facility that is designed by an architectural company, Steelman Partners.

It was also revealed that the planned resort had drawn major inspiration from ancient Greece buildings of the Acropolis and that it will feature a massive hotel space, several entertainment facilities, one convention center as well as many retail and dining options alongside a casino floor.

Creation of Over Seven Thousand Jobs

Ellinikon International Airport had acted as the major Greek airport until 2001 when it was replaced by the Athens International Airport Eleftherios Venizelos which is a much larger facility. The Athens government earlier permitted several international companies to transform this area into a seaside resort packed with residences and luxury hotels alongside a casino complex and a yachting marina.

The project was worth around $8.9 billion and it was executed by Chinese Fosun Group, local Lamda Development and Eagle Hills from Abu Dhabi. When it comes to the latest Mohegan Gaming and Entertainment project, the company hopes that its coming casino resort in Athens will create around seven thousand indirect and direct jobs. The company’s officials also hope that its coming resort will also aid in launching a new tourism and economic prosperity era for this region. The project developer also detailed that the resort is expected to boost this area’s international visitation by around ten percent if not more.