Operator News
Dreams reports doubling of profit in 2023
By James - 25 March 2024
Dreams has reported an increase in its profits. The results at the close of 2023 reported to the Financial Market Commission (CMF) increased by 53 per cent, rising from $17.317bn (US$19m) in 2022 to $26.538 billion (US$30m).
The revenues of the casino and hotel company grew, but to a lesser extent, adding 11 per cent to the $280.114bn (US$319m) from 2022, reaching $311.841bn (US$355m).
“The revenues from consolidated ordinary activities for the fourth quarter, ended on December 31, 2023, continued to show good results in the main financial and casino business indicators (…) The significant growth in revenues was sustained by the consolidation of the good acceptance by our customers of the entertainment proposal offered by our properties,” the company stated.
EBITDA, on the other hand, reached $86.892bn (US$96m), a figure that exceeded the 2022 record by two per cent, which reached $84.823bn (US$96m).
Dreams summarized that “this EBITDA figure reflects sustained growth in revenues, reaching $311.842bn as a result of a 15 per cent increase in visits, offsetting the decline in average bets in the casinos, and the growth of the Hotel and Food and Beverage segments.”
According to its Annual and Fourth Quarter 2023 Results published earlier this month quarterly casino revenue grew by six per cent compared to Q4 2022. Casinos represented 71 per cent of consolidated revenues in Q4 2023, compared to 77 per cent in Q4 2022. Hotel revenue recorded a growth of 79 per cent in the quarter, and the business segment represented 20 per cent compared to 13 per cent in Q4 2022. Chile represented 60 per cent of total revenues in the fourth quarter of 2023, compared to 69 per cent in Q4 2022 while Peru required higher commercial expenses due to “competitive situations” the company said.
Dreams S.A. operates twenty-two licenses and operation permits for casinos: nine located in Chile, seven in Peru, one in Argentina, four licenses in Colombia, and one in Panama.
