The ‘Superintendence of Gaming Casinos’ (SCJ), the Chilean regulator, shared the financial results for November 2021, the month in which the casinos generated $17.1 million.
According to SCJ, casinos in November managed to maintain “the recovery trend seen throughout the second half of the year”, while the industry managed to outperform November 2019 revenues by 14%.
Additionally, November 2021 represented the second month since the start of the pandemic that the 26 authorized casinos operated without interruption, “a situation that allowed the GGR (Gross Gaming Revenue) to recover”, according to the SCJ.
Casinos authorized by Law 19,995 contributed more than US$17 million in taxes, exceeding the number reported in the same month in 2020, which was also the one they received authorization to reopen after being forced to stop their operations due to COVID in March. .
However, the most important data from the new report is that in 2021, casinos managed to surpass the levels that had been experienced in November 2019, when the pandemic had not yet hit the sector.
Of the total taxes, $7.7 million comes from a gaming tax directed at regional governments and municipalities to fund public projects. Another US$7.3 million comes from the payment of VAT on gaming revenue, while the remaining US$1.7 million comes from the tax to enter gaming halls, sent to the general coffers.
Gross revenue reached US$55.5 million, which is 14% higher than the figure recorded in November 2019 and 11 times higher than in November 2020, according to SCJ.
“In terms of visitation, 458,000 people entered the 26 operating casinos, representing a decrease of 14.5% compared to November 2019. In addition, during November 2021, we recorded an average spend of US$ 121 per visit, which implies a real increase of 39.7% compared to November 2019”, detailed the local regulatory body.
The casinos that contributed the most
While the Valparaiso region was the best performing in November 2021, Sun Monticello in O’Higgins was the casino that contributed the highest taxes ($4.1 million). In addition, Enjoy Viña Del Mar and Enjoy Santiago de Valparaíso recorded US$1.8 million and US$1.3 million in taxes, respectively.
The Chilean industry is expected to change significantly in the coming months as Enjoy and Dreams recently announced that it has reached a final agreement to merge its businesses. The transaction, likely completed in the fourth quarter or early 2021, would result in a company that would control 58% of the sector in Chile.
Dreams shareholders will hold 64% of the combined entity’s shares, while Enjoy’s will hold the remaining 36%, and will eventually focus on other businesses such as video games.
