Mexico’s Logrand reportedly considers an offer for Chile’s Enjoy
Local media report that the Mexican gambling group is interested in the Chilean casino chain.
Chile.-It’s being reported that Mexico’s Logrand Entertainment is eyeing the Chilean casino operator Grupo Enjoy following a block on Enjoy’s proposed merger with the other Chilean casino giant, Dream. It’s been suggested that Logrand could acquire the operator at a discount price.
Enjoy’s biggest creditors, the funds Euroamerica and Penta Vida, are in favour of a sale following the block imposed on a merger with Dreams SA by Chile’s Competition Authority, the FNE. The regulator had noted that the combined company would have had a market share of over 75 per cent and around 60 per cent of all of Chile’s land-based gaming licences.
It also claimed that those involved in striking the deal had “colluded to secure favourable outcomes” for themselves. Dreams CEO Jaime Wilhelm stands charged with alleged market manipulation and investor fraud.
Last month, Grupo Enjoy 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. However, it’s understood that Logrand is only interested in the Chilean operations. Logrand operates 14 casinos in Cancun, Guadalajara and Monterrey.
Online gambling in Chile
Meanwhile, Chile is preparing to liberalise online gambling by the end of this year. The government is still working on the legislation. In the meantime, it has ordered sports bodies to respect a Supreme Court ruling that clarifies that online gambling is currently illegal. It gave the Chilean Football Federation (ANFP) until September 30 to end its Chilean First Division title sponsorship deal with Betsson, which has two years left to run.
The Supreme Court ordered the government to block access to online gambling sites after the state-owned lottery and pools operator Polla Chilena de Beneficencia lodged a complaint against the activity, which it says is detrimental to its business.
As a result, the court ruled that 23 operators are working illegally: bwin, Betano, Betway, Betcris, Betsson, BetWarrior, BetSala, Betfair, Betplay, Bodog, bet365, Coolbet, JuegaenLinea, 1xbet, Rivalo, Rojabet, Micasino, Latamwin, Estelarbet, KTO, Marathonbet, Rushbet and Sportingbet.
Various football clubs have contracts with online sports betting operators. The ANFP has been seeking an agreement to protect them while legislation is drawn up. Its president Pablo Milad vowed to go to the Court of Appeals to fight the ruling.
