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Monzeglio warns Cipriani-Enjoy deal could reduce casino competition in Punta del Este

Business

Former Uruguayan tourism undersecretary Remo Monzeglio said Cipriani’s offer to acquire Enjoy Punta del Este could undermine the planned competition between private casinos in the resort. He said the casino licence situation would need review if the acquisition left a single licence in operation, while the status of the licence for Cipriani’s planned resort remained unclear.

A change in ownership could affect competition between private casino licence holders in Punta del Este.

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Deals & M&A

JHSF Península agrees to buy Enjoy Punta del Este for $160m

JHSF Península has agreed to acquire the Enjoy Punta del Este complex for $160 million, through the purchase of all shares in owner and operator Baluma S.A. The sale agreement was signed on 10 April and remains subject, among other conditions, to approval by Uruguay’s Commission for the Promotion and Defense of Competition; Enjoy said its creditors’ committee has approved the sale.

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