The Chilean hospitality group Enjoy has confirmed the sale of its Punta del Este casino resort to JHSF Península, a Brazilian conglomerate linked in Uruguay to the Fasano brand.
The agreement was disclosed through a material fact filing with Chile's financial markets regulator, formally closing a competitive bidding process that had drawn interest from multiple international parties.
The property in question, originally opened as the Hotel Conrad in 1997, sits on approximately 4,000 square meters of gaming floor and features around 550 slot machines, 75 gaming tables, a dedicated poker room, seven restaurants and bars, a spa, a gym and a convention center with capacity for up to 5,000 people. The hotel also has 292 rooms.
The deal is structured around the full transfer of shares in Baluma S.A., the subsidiary through which Enjoy controls the asset. Proceeds will be used mainly to repay bond debt backed by the shares, with Moneda Asset’s Latin American Debt Fund among the key creditors.
Before the transaction closes, it must clear two regulatory challenges: authorization from Uruguay's Executive Branch, required for any private casino operator, and a review by the Competition Promotion and Protection Commission. Experts have noted the competition review alone could take several months.
JHSF, headquartered in São Paulo and publicly listed since 2007, reported revenues exceeding BR3.7bn ($740m) in 2025. The group operates across luxury real estate, shopping centers, hotels, fine dining and executive aviation.
Earlier bidders included Uruguayan businessman Edgardo Novick and Italian entrepreneur Giuseppe Cipriani, who withdrew after submitting an offer reported at around $160m.
Punta del Este is one of South America’s leading luxury tourism hubs, attracting high-net-worth visitors from Argentina and Brazil
