Labor Deal Until 2028 Complicates Enjoy Sale

Uruguay.– February 24, 2026 – www.zonadeazar.com The sale process of the Enjoy Punta del Este hotel and casino faces a new obstacle after the disclosure of a labor stability agreement valid until 2028, which limits the flexibility of potential buyers and reshapes the financial structure of the transaction.

Overview

The agreement guarantees job stability, preventing layoffs or equivalent measures for the coming years. While it provides operational predictability and reduces the risk of union conflict, it introduces significant restrictions for the future operator.

The negotiation enters a decisive stage with bids under evaluation and key deadlines approaching.

Details / Context

The agreement was signed in 2025 between Baluma S.A., owner of the resort, and the employees’ union. The stability clause was not initially detailed to all interested parties during the acquisition process.

Its main effect is the reduction of flexibility to implement restructuring plans, cost optimization or operational redesign — elements considered strategic for an asset that requires technological modernization, infrastructure investment and competitive repositioning within the regional premium segment.

In the bidding process for control, different groups present relevant financial offers, while investors now analyze not only the purchase value but also the development plan, investment capacity and long-term profitability of the project.

Specific topics

Impact on transaction structure

The obligation to maintain the workforce conditions the financial models of bidders and their investment strategies.

Strategic value of the asset

The complex requires technological upgrading and repositioning to sustain its leadership in the regional premium tourism segment.

Due diligence process

Labor variables become a decisive factor in evaluating the offers.

Competition among investors

The economic proposal is no longer the only central element, as financial strength and long-term vision gain importance.

Future perspective

The resolution of the process will define not only the control of the country’s main private casino resort, but also its role within the regional high-end tourism and entertainment ecosystem.

The outcome will impact Punta del Este’s economic dynamics and its international positioning, in a context where scale of investment and management model will be decisive for competitiveness.

🔗 Editó: @_fonta www.zonadeazar.com