Grupo Enjoy to evaluate sale of casinos in South America
The gambling group has begun a strategic review of its casinos in Chile, Argentina and Uruguay.
Chile.- Grupo Enjoy has announced the commencement of a strategic review that could lead to the sale of its ten casinos in Chile, Argentina and Uruguay. Its board has advised Chile’s Commission of Financial Markets (CMF) that the review is being led by the financial advisory ASSET Chile SA.
The company has eight hotel casinos in Chile plus a property in Mendoza, Argentina, and Enjoy Punta del Este Resort y Casino in Uruguay.
It said it was “exploring the existence of interested parties to implement a possible business combination by acquiring share capital or the sale of assets”. It added that it “has been working on carrying out long-term strategic plans in order to resume profitability and analysing possible alternatives for a strategic transaction”.
The move comes after Enjoy’s plan to merge with DREAMS SA was rejected by the Chilean competition authority, the FNE, because it would have given the combined company a monopoly over casinos and gaming arcades in the country. The FNE raised concerns that the companies had colluded.
Enjoy has since announced that it will focus on expansion in Brazil, where it plans to launch an online gambling platform amid the liberalisation of the market. Meanwhile, Chile is preparing to liberalise online gambling by the end of this year.
The National Congress has announced the creation of a commission to review the country’s rules on sports betting advertising ahead of the market opening. The commission, led by sports minister Jaime Pizarro, will make recommendations on the relationships between football clubs and both international and domestic gambling companies.
Its report will be considered by the Chamber of Deputies as it drafts legislative provisions for Bill 035/2022, which is intended to open up the gambling market in Chile. The legislation will end the current three-pronged monopoly of the lottery operator Loteria Concepción, the football pool operator Polla Chilena and the pari-mutuel horse racing betting operator Teletrak Chile.
