A recent move by Chilean company Marina del Sol to buy a 50 per cent share of the casinos located in Calama and Osorno are part of a much larger plan the company has to operate a total of six casinos in Chile, according to company President Nicolas Imschenetzky.
Mr Imschenetzky said that the operation to operate the two new casinos would involve the departure of Panamanian operator Latin Gaming in return for US$40m including real estate assets. The share purchase was authorised by the Chilean Gaming Control Board (SCJ) on 29 December last year.
“In this way we will begin the process of expanding nationally and we are confident that we can replicate this model in other cities, creating a kind of holding structure to make it profitable in a better way,” he said.
Mr Imschenetzky said that major changes would be made to the casinos in Sol Calama and the Sol Osorno and that the company would expand the the entertainment offer available at both sites. He also outlined the company’s commitment to taking part in the bidding process for the seven municipal licences which expire in December 2017 in the districts of Vina del Mar, Arica, Iquique, Puerto Varas, Coquimbo, Pucon and Puerto Natales.
From that date onwards, those municipalities will continue to be a home to a casino for a total of three periods of 15 years each and the new casinos will come under the supervision of the SJC. The executive said that the company would be bidding for four of the licences but did not reveal which ones but did say that the company intended to operate at least two municipal casinos along with their Canadian partners.
According to the latest figures in terms of gross revenue Marino del Sol came in third place in 2015 with 12 per cent of market share after the Monticello Grand Casino (27 per cent) and casino Rinconada (12.8 per cent). The casino Sol Calama came in seventh place and accounted for 4.5 per cent while the Casino Sol Osorno came in eleventh and accounted for 2.2 per cent of market share in 2015.