Chilean casino operators seize majority market share with merger
Leading Chilean casino operators Enjoy and Dreams have entered into a merger which will see the pair control 58% of industry activity within the country.
The merger agreement will see Enjoy remain as the surviving company, with its shareholders retaining 36% of the shares in the new business. Dreams executives will own the remainder of shares.
The new company will look to diversify its portfolio across South America, opening restaurants, hotels and event centres in cities in Argentina, Uruguay, Peru, Panama and Colombia as well as Chile.
The deal is expected to be concluded in the next 12 months, subject to regulatory approval in Chile and other affected countries.
Dreams CEO Claudio Fischer said: “The new company will bring together all the experience of both groups and a financial strength that will allow it to face the new challenges that the impact of the pandemic and the development of new technologies will bring to the gaming and entertainment industry in Latin America.”
“The combination of Dreams and Enjoy will solidify a Chilean company's leadership position in the Latin American casino industry, ” added Enjoy CEO Henry Comber.
Chile recently reported record figures for gaming revenue and tax contributions for the month of October 2021.