Enjoy evaluates offers for Uruguay and Argentina casinos

Enjoy says it has received offers from three established casino operators.

Chile.- The board of the Chilean casino operator Grupo Enjoy SA has informed the country’s Financial Markets Commission (CMF) that it is considering three offers for its properties outside of Chile. It said the negotiations remain non-binding and involve established players in the South American casino market.

Enjoy operates casinos in Punta del Este, Uruguay, and Mendoza, Argentina. It’s believed that the offers cover these and not the eight casinos that it runs in its native Chile. Chilean media has signalled Logrand Entertainment as a contender. Last year, it was reported that the Mexican casino operator was considering making an offer to acquire Enjoy in its entirety.

Negotiations are being led by Esteban Rigo-Righi Baillie, Enjoy’s former CFO, who stepped up as CEO in January. He noted that any sale will depend on the company’s ongoing reorganisation following its recent financial challenges. The operator remains under regulatory scrutiny after it filed for bankruptcy in February of 2022 due to payment difficulties for the debt it took on to buy Conrad from Caesars Entertainment in 2013.

Major creditors include the funds Euroamerica and Penta Vida. They had agreed to a merger with the rival Chilean casino operator Dreams SA, but the deal was blocked by Chile’s Competition Authority, the FNE, which noted that the combined company would have had a market share of more than 75 per cent and around 60 per cent of all of Chile’s land-based gaming licences.