Chile – Enjoy highlights ‘faster recovery speed’ as it holds onto Pucón licenceBy Phil - 2 September 2021
Chilean casino operator Enjoy has reported a loss of US$60.6m for the first half up until June, compared to a loss in2019 of US$117.8m, ‘reflecting a faster recovery speed than initially estimated.’
Revenues came in at US$30.8m, representing a fall of 70.71 per cent compared to the US$105.16m of 2020 due to the closure of its casinos, hotels, restaurants and event centers, established by the health authority in both Chile and Uruguay, during much of the first half of the year.
The recovery came in the second quarter with the partial reopening of operations, bringing in revenues of US$5.2m compared to a loss of US$800,000 last year.
Enjoy said: “After the reopening of its operations (from May to July 2021), the company recorded in the period, revenues similar to those it had prior to the start of the pandemic, reflecting a faster recovery speed than initially estimated.”
All the company’s casinos are now operating, at least partially and with limited capacity.
The group enjoyed a major win in the courts when the Constitutional Court ruled that the request of inapplicability presented by the Dreams Group to annul the company’s licence in Pucón must be ‘necessarily dismissed.’
Enjoy said: “The Enjoy project in Pucón has been attacked in all possible instances: before the Superintendency itself, in the Court of Appeals, in the Supreme Court, and twice before the Constitutional Court itself. In all these instances we have won, and it has been demonstrated that it is a project awarded in a legitimate and transparent tender, and whose modifications have been made within the legal framework and for well-founded reasons ”, Enjoy explained.
Work sstarted in Viña el Mar on July 31, with January 7, 2022 earmarked for works in Coquimbo and Pucón