Casino, gambling and betting group Enjoy has started a strategic review of its casinos in Chile, Argentina and Uruguay.
Its board informed Chile’s Financial Markets Commission (CMF) that the review is being conducted by financial consultancy ASSET Chile SA.
The company owns eight casino hotels in Chile, in addition to a property in Mendoza, Argentina, and the Enjoy Punta del Este Resort and Casino, in Uruguay.
The spokesperson said he was “exploring the existence of interested parties to implement a possible business combination through the acquisition of share capital or the sale of assets”.
He added that “it has been working on the execution of long-term strategic plans to resume profitability and analyzing possible alternatives for a strategic transaction”.
The move comes after Enjoy’s plan to merge with DREAMS SA was rejected by the Chilean competition authority, the FNE, because it would give the combined company a monopoly on casinos and arcades in the country.
The FNE raised concerns that the companies had colluded.
The Enjoy Group will focus on expansion in Brazil
Enjoy has since announced that it will focus on expansion in Brazil, where it plans to launch an online gambling platform amid market liberation.
Meanwhile, Chile is preparing to allow online gambling by the end of this year.
Congress has announced the creation of a commission to review the country’s rules on sports betting advertising before the market opens.
The commission, led by the Minister of Sports, Jaime Pizarro, will make recommendations on relations between football clubs and national and international gambling companies.
Your report will be considered by the Chamber of Deputies when drafting the legislative provisions of Bill 035/2022, which intends to open up the gambling market in Chile.
The legislation will end the current three-pronged monopoly of lottery operator Loteria Concepción, soccer pool operator Polla Chilena and pari-mutual horse racing betting operator Teletrak Chile.