Storm International sold its casinos in Mexico to have all the units on the same continent

Storm International sold its casinos in Mexico to have all the units on the same continent

Storm International, a gambling concern known in the CIS and Eastern Europe, sold its division in Monterrey, Mexico — Storm International South America. The president and CEO of the company spoke about the reasons for this decision.

The management of the company Storm International announced the sale of their casinos in South America at the end of 2016. Hollywood I and Hollywood II, two Mexican divisions with more than 1000 slot machines, got a new owner. The buyer and the amount of the transaction have not been disclosed. Entertainment complexes were sold to optimize the geography of operating the company and attract additional investments in new projects.

Michael Boettcher, Storm International President stated:

The business atmosphere of Monterrey in Mexico is rather difficult for work, very different from the CIS and Eastern Europe. The company has invested more than USD 30 million for the development of the unit, provided about 400 work places in Mexico and tried to secure the future for everyone involved in the work of our institutions. But each time it became more difficult to conduct business, in particular, due to legislative changes and the lack of necessary transparency in the work of local government and internal affairs bodies. It is time for Storm International to move on and focus on the attractive opportunities of other countries more open to foreign investment.

Chief Executive Officer of Storm International, Darren Keane added:

Our Mexican casinos were profitable and had stable business indicators, but we made the decision to sell these units in order to concentrate on the preferred European and Asian markets.

Storm International Group was founded in 1992 by Michael Boettcher and operates gambling establishments in Germany, Georgia, Armenia, Belarus, Latvia. The casino in Riga was opened during the year after the sale of the Mexican complexes. The company also focused on creating an online casino in which guests of Shangri La can receive the service of the same high level as in land units. In order for players to get the whole range of entertainment, in addition to the classic slots, simulators and table games, the site contains live dealer games and sports bets.

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