Key Moments:
- Dreams has agreed to sell four of its Peruvian casinos to Grupo Cirsa for approximately USD 18 million.
- The transaction remains subject to regulatory approval from relevant competition authorities in Peru.
- Post-sale, Dreams will retain only two casinos in Peru, significantly reducing its presence in the country.
Transaction Overview and Key Properties
Dreams, a major gaming industry operator in Latin America, has entered into an agreement to divest four of its six casino properties in Peru to Grupo Cirsa, a prominent player in the global gaming sector, with backing from Blackstone. The agreed transaction value is around USD 18 million and marks a notable shift in both companies’ positions within the Peruvian gambling sector.
A formal announcement submitted to Chile’s Comisión para el Mercado Financiero (CMF) confirms that Dreams’ Peruvian subsidiaries – Casinos Primavera, Dreams Corporation, and Dreams Gaming – are set to transfer their ownership interests in Sun Nippon Company, Recreativos El Galeón, and Dreams New York to Gaming and Services, Cirsa’s local affiliate. The acquisition covers the following venues:
| Casino Name | Location |
|---|---|
| Casino New York | Magdalena del Mar, Lima |
| Casino Luxor | Surco, Lima |
| Casino Pachanga | San Borja, Lima |
| Casino Mystic | Cusco |
This move allows Cirsa to broaden its operational footprint within Peru, adding high-profile establishments to its expanding Latin American portfolio.
Impact on Dreams’ Operations in Peru
With the transaction, Dreams will continue operating only two casino locations in the country:
- Casino Fiesta in Miraflores, Lima
- Pachanga Independencia in Independencia, Lima
This downsizing largely ends the company’s direct involvement in the majority of the Peruvian gaming market. Dreams has indicated that this material transaction will likely have only a marginal effect on its consolidated net results during 2025, and the divested entities will be excluded from its consolidated figures after closing.
Regulatory Considerations and Finalization
The completion of the sale remains contingent on regulatory clearance in Peru. The agreement is currently under review by the country’s competition authorities, and final approval is demanded by Peru’s gaming and competition legislative requirements.
Dreams has underlined that the final sale price of USD 18 million may change, depending on certain agreement mechanisms designed to account for factors such as working capital and debt. Such variations are typical within the context of mergers and acquisitions transactions.
Strategic Rationale for Cirsa and Market Consolidation
By acquiring these four casinos, Cirsa continues to execute its expansion strategy in Latin America. The Spanish multinational, with capital support from Blackstone, intends to assimilate these Peruvian properties into its broader operations, leveraging its established management and customer service processes.
This acquisition also mirrors a wider movement within the Latin American gaming sector, where operators have focused on portfolio optimization and targeted asset sales. Dreams is reallocating resources to areas where it maintains a competitive edge, while Cirsa leverages acquisitions to bolster its share in a dynamic Peruvian market.
- Author
Daniel Williams
