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Chile – Shares fall for Enjoy

By - 17 April 2023

Shares have fallen sharply for Chilean casino operator Enjoy with the company experiencing a 13 per cent drop after it became known that the merger with Dreams would not take place.

According to local news outlet La Tercera, after the collapse of the merger, shares fell 13 per cent on the Santiago Stock Exchange to $1.08, its lowest price since the company went public.

Last week both companies informed the Commission for the Financial Market (CMF) that they would remain as separate companies. The end of the merger came after it was delayed several times by Chile’s national competition authority (FNE) and amidst growing claims that the companies had worked together in order to divide 12 casino licenses amongst themselves and another local operator – Marina del Sol.

Both companies, had intended to create the largest player in the casino industry in Chile and one of the largest in South America, but decided to cancel the agreement which was announced 15 months ago.

Currently, Enjoy operates casinos in Antofagasta, Coquimbo, Viña del Mar, San Antonio, Santiago (Rinconada de Los Andes (referred to as Santiago), Los Angeles, Pucón, Puerto Varas and Chiloé, as well as Punta del Este and Mendoza outside of Chile. Dreams  has casinos in Iquique, San Francisco de Mostazal (Monticello), Temuco, Valdivia, Puerto Varas, Coyhaique and Punta Arenas.

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