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Chile – Enjoy to invest heavily in new municipal licences

By - 10 July 2018

Latin American gaming and resort company Enjoy has informed investors that it plans to invest as much as US$116.7m over the next two to three years in the municipal casinos of Viña del Mar, Pucón, Coquimbo and Puerto Varas.

According to Enjoy, the company plans to invest US$31.8m in the largest casino Viña del Mar. Of this total, 84 per cent will be allocated to the renewal of slot machines, while the remaining 16 per cent will be used to develop new VIP lounges and renovate the restaurant and bar of the new casino.

In the case of Pucón, Enjoy plans to invest US$31m over a period of three years. Of this amount, 66 per cent will be used to update slot machines on the premises and integrate the casino into the hotel. The remaining 34 per cent will be used to remodel the hotel, so that it reaches the “four star” category.

In Coquimbo, the estimated investment stands at US$29.4m over a period of three years. Of the total, 70 per cent will be used for the improvement of the slot machine offer and 30 per cent will be allocated to the remodelling of the casino’s interior and exterior, in addition to the extension of the smoking terrace and a new centre for events and shows, which will be doubled in capacity.

Meanwhile for the licence in Puerto Varas the company expects to invest US$24.5m. Of this amount, 48 per cent will be used on new slot machines and 52 per cent will be used for the integration of the new casino and the remodelling of the hotel in Puerto Varas. This will include a new pool and terrace, as well as new spaces allocated to dining.

Enjoy also pointed out that its strategic focus for the future include the optimisation of business processes and technologies, and the exploration of new markets in Latin America, amongst others. The news comes after the company announced in June that it will be withdrawing from the Colombian market. In June, the Deciding Council of the Chilean Gaming Board (SJC) awarded five municipal casino licences with Enjoy scooping four licences and Sun dreams the other. Licences for the five casinos are for a duration of fifteen years.

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