Operator News
Enjoy reports losses of $90bn
By James - 1 April 2024
Enjoy S.A. published its financial statements for the last quarter of 2023, reporting a loss attributable to owners of the parent company of CLP $89.789bn as of December 31, 2023, deepening the negative balance from CLP $57.444bn the previous year.
The company attributed this situation to several factors, including a lower EBITDA generated in 2023 compared to the previous year, as well as a higher impairment of assets. Despite these losses, Enjoy has experienced a nine per cent increase in its consolidated revenues, reaching CLP $86.311bn in 2023.
According to the company: “Ordinary income as of December 31, 2023 reached $318.419bn, which is four per cent higher than the $306.170bn recorded in 2022. Ordinary income in Chile grew by eight per cent, equivalent to $17.838bn, compared to 2022, offset by a six per cent decrease in revenue from the Punta del Este business unit ($5.588bn), due to lower HOLD and an adverse effect caused by the appreciation of the Uruguayan peso against the dollar.”
Enjoy’s CEO, Esteban Rigo-Righi said:. “The results obtained towards the end of last year indicate that this business is sustainable and that there are growth opportunities, so we are working intensely to project the company properly alongside our creditors,” he said.
In January, Enjoy, the main casino operator in Latin America, announced that it was undergoing another restructuring, the second in just two years. Enjoy described a series of reasons for not reaching its growth projections, including “liquidity constraints and the slow post-pandemic recovery, which had greater complexities than initially anticipated.”
