Savor SA Acquires Full Ownership of Conrad Punta del Este Resort and Casino

Savor SA, a gaming enterprise based in Chile, has assumed full ownership of the Conrad Punta del Este Resort and Casino, situated in Uruguay. They secured the outstanding 55% shareholding from Caesars Entertainment in a transaction valued at $180 million.

Savor SA had previously obtained a 45% interest in Baluma Holdings, the resort’s parent company, back in 2012. This latest acquisition signifies Caesars’ complete withdrawal from the endeavor.

The agreement, concluded earlier this year, involved Savor SA making an initial payment of $14.7 million in February, with the remaining sum settled recently.

Caesars Entertainment verified the sale, indicating it stemmed from a provision within the 2013 agreement when Savor SA first acquired its stake. This provision granted Savor SA the option to purchase the remaining shares between the third and fifth year of their collaboration.

The Conrad Punta del Este, nestled in the renowned Uruguayan coastal town of Maldonado, features 300 guest accommodations and a casino reminiscent of Las Vegas.

Savor SA holds ownership of numerous casinos and hotels throughout South America. They have also been broadening their footprint in Chile, marked by the recent inaugurations of the Villarrica Park Lake hotel and the Patagonia hotel.