Gaming firms to transact in Mexico

Jul 17, 2001 6:15 AM

Rights to do business in Mexico has resulted in a union between two gaming companies. Las Vegas-based Phoenix Leisure Corporation (PLS) will make contributions to Viva Gaming & Resorts Inc. (VIGA) and the two will form a management company to provide technical and operating on a fee-basis to Viva.

Viva’s Mexican subsidiary, Viva Gaming & Resort de Medico, S.A. de C.V., holds legal rights to sell and market instant “scratch-and-win” lottery tickets through the operation of token machines in approved EC (entertainment centers) locations. The funds provided by Phoenix Leisure and another Viva-related party will be used to complete the construction of Viva Mexico’s first EC location at the Grandsur Parque Comercial, one of Mexico City’s busiest malls.

Viva specializes in identifying casino and other gaming development opportunities in emerging markets worldwide.

Phoenix was formed by Las Vegas auctioneer and real estate developer Eric Nelson to pursue gaming opportunities in the U.S.

The company operates a horse track and off-track betting facilities in Wyoming; is in negotiations to acquire an equity interest in four min-casinos in Washington State, and owns land in Mississippi and Colorado that could be developed for gaming purposes.