Mexican group reportedly considering acquisition of Enjoy’s casino chain in Chile

After the failed merger with Dreams, the Chilean group Enjoy made several restructuring attempts, evaluating possible alliances, incorporation of partners, or even the sale of some operations.

Finally, from Mexico, the Logrand Entertainment Group is the one who reportedly has shown firm interest in taking over Enjoy’s casino chain, which has a 40% market share in Chile. The operation of Enjoy in Uruguay would not be in the plans of the Mexicans, who would aim only at the business in the Andean country.

Enjoy Punta del Este Casino & Resort

In charge of managing Asset Chile, Enjoy has reportedly begun negotiations with the Mexican bidder, a casino operator in its country. Logrand Entertainment Group opened in 2005 its first casino, Paradise, in Monterrey, Nuevo León. It currently operates in six Mexican states, with 12 gaming rooms, and a minority presence in three other locations.

Following a financial reorganization completed in 2022, the then creditors took control of Enjoy. Enjoy’s largest shareholder is Euroamerica, with 15.25% ownership, followed by Penta Vida, with 11.66%. The firm is chaired by Henry Comber, CEO of Enjoy.

Henry Comber

Enjoy’s balance sheet would not be in its best moments, with a first semester with losses of CLP 38,642 million (USD 45.2 million), more than the CLP 26,065 million of the first half of 2022. The participation in the Chilean casino market registered, however, growth for Enjoy from 37% to 40% in the second quarter, while its competitor, Dreams, dropped from 39% to 37%.

As an extra incentive, Enjoy recorded an increase of 7.8% in the value of its shares in the Santiago Stock Exchange, after the Supreme Court’s ruling that ordered the blocking of 23 online gambling houses.