Marcelo Bassignana - General Manager of Sun Plaza Mendoza -, along with the South African Anthony Leeming -CEO of Sun International- and the Chilean Claudio Fischer -President and shareholder of SunDreams-. (Photo Alf Ponce / MDZ)
Marcelo Bassignana - General Manager of Sun Plaza Mendoza -, along with the South African Anthony Leeming -CEO of Sun International- and the Chilean Claudio Fischer -President and shareholder of SunDreams-. (Photo Alf Ponce / MDZ)
"We are a company with regional expansion, we already had a presence and we operate in four important Latin American countries and Argentina is a complicated country ... we wanted to get here a long time ago. We believe that in recent times the conditions have been to be able to disembark in this country," Bassignana explained.
"We intend to continue with the action and everything that has been done so far in this space since the reopening of the New Plaza Hotel Mendoza. We want to continue with all the good that was done but at the same time add all the experience that Sun Plaza Mendoza can bring in terms of entertainment, gastronomy and hospitality. We also hope that this is the first of many operations that our company has in Argentina," continued Bassignana, who also specified that the focus of Sun Dreams is entertainment and hospitality. "All our operations tend to have important arenas with shows: that's the reason why we present the Ana Torroja show tonight."
Sun Dreams SA, a subsidiary of Sun Latam SpA, acquired in a transaction registered in June 2018, directly and indirectly, 100% of the shares of Nuevo Plaza Hotel Mendoza SA, the mythical building located in front of Plaza Independencia with the most famous terraces of the province, and which currently operates as Park Hyatt Mendoza.
The amount that was paid was approximately USD 24.8 million, however, Sun Dreams said that it is possible that this value will increase some 3 million more, up to USD 27.8 million, depending on the operating results of the year 2018 of this New Plaza Hotel Mendoza. "We plan to invest money in enhancing this property," said the brand new CEO. "I am sure that the investment can reach USD 30 million," he said.
A company that chose Mendoza to enter Argentina
Sun Dreams was born in 2015 as a result of the union of Sun International, a company of South African origin with a strong legacy in the field of hospitality and entertainment, and Dreams SA, one of the leading companies in Chile in the field of hospitality and gaming. The merger of both companies gave rise to Sun Dreams, currently the largest casino operator in Chile and Latin America. It has a total of 20 properties in 5 countries of the region: Chile, Peru, Colombia, Panama and now Argentina, with more than 7,000 slot machines, more than 300 gaming tables distributed throughout the region and close to 4,000 employees.
"In South Africa the properties are much bigger, so they allow us to do other types of more diverse activities, but here in Mendoza we will focus on excellent gastronomy, gaming and casinos, excellent shows and accommodation. Mendoza changed a lot in the last two years: the increase in air connectivity has made this province a regional destination, with direct flights from Panama, Peru, Brazil, Chile ... this has greatly improved tourism, and we understand that we can contribute a lot so that every time more tourists come to Mendoza," added Bassignana.
Asked about why they chose Mendoza to land in Argentina and at such a delicate moment of the local economy, Bassignana explained that the regulatory framework of this province is one of the most solid in the country today, with a long-term regulation, licenses that have no questions, a Gaming Institute that provides clarity and predictability, as well as transparency, fundamental values for companies like Sun Dreams that are publicly traded.
"We have a lot of confidence in Argentina and in Mendoza in particular. Basically we presented here, we explained what our project was and informed that we wanted to continue investing not only in this property but also in other places as much as possible. The governor Alfredo Cornejo was very happy and I can also say that he wants to have some kind of association in some cases where we can all further encourage tourism and improve it," explained the Manager of Sun Plaza Mendoza on his meeting with local authorities.
Changes will be made in the casino, but Sun Dreams will need to do some studies to see the profile of the client and the situation, and then present projects to the Gaming and Casinos Institute. "If they agree and give the ok, we will take the changes forward. I estimate that by 2019 we will have a renovated casino, surely," concluded Bassignana who added that the hotel will remain in the hands of the Hyatt chain and without changes in terms of staff.
Source: GMB / MDZ
