Chile’s Enjoy group has started a voyage of restructuring and assessing possibilities, including prospective collaborations, alliances, and potentially the sale of some assets, in the wake of the disastrous merger with Dreams. Currently, it looks that the Mexican company Logrand Entertainment Group is very interested in purchasing the Enjoy casino chain, which currently controls a sizeable 40% of the Chilean market. Although this agreement is still being worked out, it appears that Logrand will continue to concentrate on the Andean nation and has no imminent intentions to integrate Enjoy’s activities in Uruguay.
Asset Chile, the company in charge of looking after Enjoy’s assets, is said to have started talks with the well-known Mexican casino operator. In 2005, Logrand Entertainment Group entered the casino business when it opened Paradise, its first establishment, in Monterrey, Nuevo León. Since then, it has increased its presence in three other sites and six additional Mexican states, boasting 12 gaming rooms.
The financial restructuring of Enjoy that was finished in 2022, which resulted in the company’s creditors gaining control of it, serves as the background to this possible takeover. Currently, Euroamerica is Enjoy’s largest stakeholder, owning 15.25% of the business, followed by Penta Vida, who has 11.66%. Henry Comber, the CEO of Enjoy, is in charge of the business.
With a first-half loss of CLP 38,642 million (about USD 45.2 million), exceeding the CLP 26,065 million loss posted in the first half of the prior year (2022), Enjoy’s financial performance has faced considerable difficulties. Despite these obstacles, Enjoy was able to grow its market share in Chilean casinos, moving from 37% to 40% in the second quarter. In comparison, its rival Dreams saw a modest decline, dropping from 39% to 37%.
A landmark Supreme Court decision that required the barring of 23 online gaming platforms provided Enjoy’s shares with an extra boost, causing their value to increase by 7.8% on the Santiago Stock Exchange. This encouraging result has given Enjoy’s continuing attempts to navigate Chile’s shifting casino market more energy.
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