The South American gaming company, Enjoy SA, is acquiring the remaining ownership of the Conrad Punta del Este Resort & Casino located in Uruguay. They are purchasing the outstanding 55% share from Caesars Entertainment in a deal worth $180 million.
Enjoy SA had previously obtained a 45% stake in the resort in 2012. This latest acquisition was actually stipulated in the initial contract, granting them the right to buy the remaining portion within a specified timeframe.
The Conrad is a high-end property boasting 300 guest rooms and a casino reminiscent of those found in Las Vegas. This transaction signifies a complete withdrawal for Caesars from the endeavor. Enjoy SA, on the other hand, is bolstering its footprint in South America. They already manage a number of casinos and hotels within the continent and have recently inaugurated two new hotel properties in Chile.
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