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Chile – Enjoy wants more clarity over Chile’s municipal licences

By - 18 April 2017

Chairman of the board of Enjoy, Javier Martínez has urged the authorities for more clarity when it comes to the licensing process for the municipal casinos.

In a letter published in the 2016 Annual Report (a legal document required by all companies that are valued by Chile’s securities and insurance regulator) Mr Martínez, asked that the “uncertainties” which currently revolve around the bidding process be resolved.

“In Chile, we are confident that the authorities will resolve the current uncertainty over the operating permits of the municipal casinos, which represent an important source of revenue for Enjoy, work for our employees and resources for the municipalities,” he said. Enjoy operates nine properties in Chile and Mr Martínez said that the company had reported sustained growth in its gaming, hospitality, gastronomy and entertainment operations. Meanwhile tourist spending was down in Punta del Este Uruguay due to a decrease in visitors from both Brazil and Argentina. While the Enjoy owned Conrad hotel recorded a good performance the drop in gaming income over the summer of 2016 is a “shortfall” which will be difficult to recover, he said. However according to Mr Martínez the last quarter showed “good prospects” for 2017 once the Argentine market recovers and visitor numbers begin to increase once again to the Uruguayan resort.

The report also highlighted the fact that 2016 marked the company’s arrival in the Colombian market through Enjoy San Andrés, located next to the Royal Decameron Isleño Beach Resort. The new casino has 72 slot machines and 8 gaming tables. It also emphasised strong performance in one of the most competitive markets in Argentina: Mendoza.

The company currently operates ten casinos in Latin America, 6,824 slot machines 367 gaming tables and 508 bingo seats. Enjoy’s casinos recorded more than 6 million visitors in 2016. According to the latest report, in terms of gross income Enjoy is the market leader in Chile with 39.08 per cent of market share. Overall having taken the purchase of Enjoy Conrad Punta del Este into account 2016 showed “the highest returns from the business since the entry into force of the Tobacco Act,” Mr Martínez said.

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