The Financial Markets Commission of Chile (CMF) has disclosed that Grupo CIRSA has acquired four casino properties of Dreams SA located in Peru.
A filing submitted to the CMF detailed that the transaction was agreed as a “share purchase agreement”, in which CIRSA will take control of Casino New York, Casino Luxor, Casino Pachanga, and Casino Mystic. The total purchase price is set at $18m (€17m) and remains subject to the final authorisation of regulatory approvals in Peru.
CIRSA accelerates Peru vision
The deal is part of a broader strategy by CIRSA to consolidate its position across Latin America. Having bought a majority 70% stake in Apuesta Total last year.
Boosted by its new IPO funds CIRSA is knitting together a portfolio that combines mass-market sports betting with casinos and online play in ‘under-penetrated’ LatAm markets.
The aggressive strategy, CIRSA hopes will secure its ambition of becoming the leading omni-channel operator in Peru, a market with strong retail presence but uneven regulatory certainty for online gambling services.
In Peru, CIRSA is also pressing ahead despite unresolved tax headwinds. Peru’s gambling sector has been unsettled by the 1% Selective Consumption Tax (ISC), imposed directly by President Dina Boluarte in 2024.
Local licensees have launched a legal appeal, branding the levy unconstitutional and a threat to market stability.
Despite tax setbacks, CIRSA’s leadership remains confident. Joaquim Agut, Executive Chairman, told investors earlier this month: “Latin America will be our growth engine, as we lay the foundations of becoming the globally dominant Spanish gambling group across Spain and South America.” – The statement leads CIRSA’s first filing as a Plc of the BOLSA Madrid and the publication of its first interim results reporting operating income of €573m.
Dreams retreats to home ground
For Dreams, the sale represents a further retrenchment. The Chilean operator is stepping back from Peru after years of expansion, retaining only two properties in Lima. At home, Dreams has faced its own share of setbacks.
Legal disputes over unfinished municipal casino projects have only recently been resolved, with the Supreme Court confirming that neither Dreams nor its rival Enjoy would bear liability for the Iquique development.
Even so, Dreams is still under scrutiny. Allegations of collusion in past licensing processes have tested its reputation, while regulatory delays continue to cast a shadow over investment plans. Its decision to offload assets abroad reflects both financial caution and a focus on navigating a fraught domestic landscape.
Chile: Gambling future on uncertain balance
The outlook for Chile remains in flux. National media, football clubs and state authorities continue to call for the government to settle the future of gambling legislation — a debate that has been ongoing since 2022.
At the policy level, Chile’s congress has revived discussions on legalising online gambling. Yet disputes over football sponsorship, broadcast advertising and the privileged role of state-owned monopolies remain unresolved, a reminder that regulation in the region advances unevenly.
While the judiciary has already been strengthened to pursue gambling-related criminal offences, no final bill to regulate online gambling has been approved, leaving the market in limbo.
The CIRSA–Dreams transaction illustrates more than just corporate deal-making. It signals a shift in the balance between local incumbents and foreign-owned multinationals: a market once dominated by home-grown firms is opening to larger, globally financed groups intent on weaving Latin America into their empires.
