Mexican gambling company Logrand Entertainment may acquire the Grupo Enjoy casino chain. As a number of Chilean media reports, it can buy the facilities of an operator from Chile at a reduced price.
It is known that Enjoy’s major creditors, the Euroamerica and Penta Vida funds, are fully supportive of the idea of selling the casino after an attempt to merge the Chilean gaming group with its main competitor in the market, Grupo Dreams SA, failed. So, in April of this year, the Chilean Competition Authority began to prevent the merger of these companies. If it were to happen, then the combined gaming group would have a monopoly in Chile, holding a market share of over 75% and approximately 60% of the land-based gaming license.
Casino chain Grupo Enjoy announced the start of a strategic review last month. This could lead to the sale of 10 gambling halls in Chile, Argentina and Uruguay. The company owns eight casino hotels in Chile, real estate in Mendoza, and the Enjoy Punta del Este casino resort in Uruguay. At the moment, its buyer Logrand Entertainment, which owns 14 casinos in Cancun, Guadalajara and Monterrey, is interested in Chilean properties.
This will allow Logrand to expand its presence in South America outside of Mexico. It will compete with market representatives such as Grupo Caliente MX and Big Bola Casinos. The Mexican operator will gain control of 40% of the casino market share in Chile.