Operator News
Chile – Enjoy and Dreams reach agreement over merger
By Phil - 20 January 2022
Enjoy S.A and Dreams S.A, the two largest casino operators in Chile, announced that they had finalised their agreement to merge the two companies. The agreement is pending shareholder and regulatory approvals.
Enjoy will be the legal surviving entity. Dreams’ shareholders will receive approximately 64 per cent of the merged company, while Enjoy’s shareholders will retain the remaining 36 per cent.
In addition to gaming casinos, the new entity will have hotels, event centres and restaurants in cities throughout Chile as well as in tourist destinations in Argentina, Uruguay, Peru, Panama and Colombia.
“The new firm will combine all the experience of both groups and a financial strength that will allow it to robustly face the new challenges that the effects of the pandemic and the development of new technologies have imposed on the gaming and entertainment industry in Latin America,” said Claudio Fischer, Chairman of the Dreams board.
Meanwhile Chairman of Enjoy’s board Henry Comber added that “the merger of Dreams and Enjoy will consolidate the leadership of a Chilean company in the casino industry in Latin America.”
Enjoy and Dreams announced that they had reached an agreement to merge back in October. For the merger to go ahead consent from third parties will need to be obtained as well as the approvals of the antitrust authorities and casinos in the respective jurisdictions in which both companies operate. The transaction will also be subject to other conditions and regulatory approvals as well.
Enjoy operates casinos in the Chilean cities of Antofagasta, Coquimbo, Viña del Mar, Rinconada, Santa Cruz, Pucon and a casino in the Argentinean city of Mendoza, equating to 37.6 per cent of the market. Dreams is currently the largest casino operator in Latin America. In Chile, it operates casinos in Iquique, San Francisco de Mostazal, Temuco, Valdivia, Coyhaique and Punta Arenas; plus eight casinos in the city of Lima, Peru; two operations in Cartagena de Indias in Colombia; two operations in Panama City, Panama and one casino in Mendoza, Argentina. It has a 38.8 per cent share of the Chilean market.
