Clairvest funds rise to $673 million ready for investment

According to its latest financial report, the Clairvest Group of Canada, now seeking an IR license in a Japanese regional market, has C$886.5 million (about $673 million) available for future acquisitions through treasury funds, credit facilities, access to funds in its acquisition entities and uncalled committed capital, a figure which is slightly higher than recent quarters.

In March, Clairvest completed the sale of its interest in the Rivers Casino of Des Plaines, Illinois.

In May, Clairvest entered into a memorandum of understanding to merge its Chilean Gaming Holdings into a larger entity under the umbrella of Sun Dreams. Should the merger go forward as planned, the larger company would have combined annual revenues of about $500 million that would own and operate eleven casinos in Chile, eight casinos in Peru, and one each in Argentina and Colombia. Clairvest will become a minority shareholder in this arrangement, but the merged company will become the largest casino company in Chile and one of the largest in Latin America.

Clairvest has been taking a low profile in its Japan bid, but has confirmed to Asia Gaming Brief that “we remain very interested and are focused on Hokkaido, where we have been and continue to spend time and effort.”