Operator News

Chile – Dreams incorporates eight new companies

By Phil - 22 September 2021

In order to have a better chance to operate a casino in the respective commune where licenses are up for tender Dreams has incorporated eight new companies. The new companies are called the Gaming and Entertainment Casino of Antofagasta, Calama, Copiapó, Los Angeles, Osorno, San Fernando, Talca and Talcahuano.

The capital of each of these eight companies will amount to $526m (around US$668,000) and will have duration of 50 years, extendable for ten more. Dreams currently operates casinos in Iquique, Temuco, Valdivia, Puerto Varas, Coihaique and Punta Arenas.

“Dreams likes to compete. As a company, our intention has always been to compete in the processes opened by the SCJ. We have done it from the beginning and we will continue to do so,” the firm’s corporate prosecutor, Carlos Silva, told local media. He added that: “The company is preparing to participate in all the upcoming casino bids because, contrary to what the Superintendency of Casinos has stated, the Chilean market is healthy and highly competitive and the stakeholders that make it up want it to stay that way. It is what drives us to make the best possible proposals so that they continue to be aligned with the development of the regions, the generation of jobs and the contribution to local and regional governments, through the payment of our gambling taxes.”

Today, there are 12 licenses available up for tender. Of these, four are from Dreams (Monticello, Temuco, Valdivia and Punta Arenas), three from Marina (Talcahuano, Osorno and Calama), two from Enjoy (Antofagasta and Los Angeles). The others are operated by Luckia (Antay Casino & Hotel de Copiapó), the Cardoen group (Casino de Colchagua) and the Gran Casino de Talca (Corporación Meier).

Operators have lobbied hard to suspend the tender due to the pandemic. They argue that the conditions are not in place to go ahead with the tender, considering how hard hit the sector has been hit and the fact that COVID-19 has made it impossible, especially foreign operators, to scout out possible locations.

Dreams emphasised that its intention to compete did not contradict the idea that the best thing to do was to suspend the process. “Maintaining the desire to compete, Dreams adheres to the fight that the Chilean Association of Gaming Casinos has led, which is a matter of principles, where what we ask that the rule of law be respected, promises are upheld fulfilled and legal certainty,” they said.

The deadline for all interested parties to submit bids for one of the casino licenses that are currently on offer expires on 18 October