Valentina Fuentes and Eduardo Thomson, Bloomberg News Interior view of Marina del Sol's casino in the city of Chillan. , via Bloomberg
(Bloomberg) -- When Canadian private equity fund manager Clairvest moved to invest in Chilean casinos more than a decade ago, one of the deciding factors was the countryâs reputation for stability and the rule of law.
Now, that standing is at risk as the government changes the way it will auction off its next round of gaming concessions, according to Michael Wagman, president of Clairvest. The 15-year concessions will be sold to the highest bidder, instead of giving preference to current operators as they expected.