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On June 29, 2018, Sun Dreams signed a binding agreement for the direct and indirect acquisition of all shares of the Argentine company Nuevo Plaza Hotel Mendoza SA, which owns and operates the Hotel Park Hyatt Mendoza and its casino in this Argentinean city which has about 186 rooms, 648 gaming machines and 19 gaming tables.
New Plaza Hotel Mendoza SA operates under a concession granted by the province of Mendoza, Argentina , which expands until 2033 and can be renewed until 2038.
The total price of the operation rises to 24.8 million US dollars , which can increase up to a maximum amount of 27.8 million US dollars depending on the operating result of the acquired company in 2018.
The operation should be fully carried out at during the month of July 2018.
This acquisition is supervised by Sun Dreams SA's international expansion plans and it is expected to have a positive impact on the results of the Company, due to the incorporation of badets that generated revenue of about 29, US $ 1 million in 2017 and the extension of the average gaming license term of the Company, as explained by the essential fact sent to CMF.
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