Chile: Shortlist of candidates for sale of Enjoy’s operations in Punta del Este allegedly in place

Enjoy, a company in the gaming sector in Latin America, already has “a shortlist of candidates” for the eventual sale of its operations in Punta del Este, Uruguay, which had been announced earlier this year in August and whose management is in charge of the firm ASSET Chile. This was reported by the Chilean media Diario Financiero

According to sources of the specialized media, “the estimates are that during 2024 the operation will be completed” and that, “so far, all alternatives have been evaluated: from selling part of the assets to associating in the property with a global player.”

At the time, through a note sent to the Financial Market Commission (CMF), Enjoy indicated that “after the merger with Dreams did not take place, it has been working on the realization of long-term strategic plans to resume profitability and in the analysis of possible alternatives for a strategic transaction.”

However, according to the Chilean media, “the company has reinforced its commitment to look for new clients in different markets, reactivated now with the end of the pandemic and the restrictions”, especially in the case of Uruguay. In addition, they added that the company “is working on projects to expand the hotel capacity of the site to receive the clients of the high season that has just begun.”

According to the above-mentioned media, “there are also interested parties” in Enjoy’s operations in Chile, adding that “the one that sounds with more strength to associate with Enjoy or to buy some assets that allow it to pay debt is the Mexican casino group Logrand, which has 14 gaming halls in seven states of the country.”

In this context, Diario Financiero warned that Enjoy faces “immediate challenges”, such as “recovering optimal liquidity levels, working on efficiency and productivity to face the high inflation that raised its cost structure significantly, including the economic offers in UF for the new places, and finally recovering profitability in a highly competitive market, such as Enjoy Santiago.”