Chile Opens New Casino Tender After Early Exit of Enjoy and Dreams

The new tender covers casinos in Coquimbo, Viña del Mar, Pucón and Iquique, with interested parties required to submit proposals by July 24. Both companies activated a regulatory mechanism that allows for the early return of licenses, a move that will lead to their complete withdrawal from these markets within the next three years.

Under the revised terms, applicants must commit to developing or expanding tourism infrastructure in the host cities and agree to retain at least 80 percent of the current workforce. Authorities say the conditions are designed to protect local employment and ensure that casino operations continue to support regional tourism economies. At the same time, the financial requirements for operators have been significantly eased compared to previous agreements.

The most substantial adjustment involves the minimum guaranteed annual payments to municipalities, which have been sharply reduced. Coquimbo will see a 75 percent drop in required contributions, while Iquique’s minimum falls by 71 percent. The guarantees in Viña del Mar and Pucón have been lowered by 52 percent and 51 percent, respectively. These changes reflect the financial difficulties experienced by Enjoy, whose license obligations reportedly consumed as much as half of its revenue and contributed to its declining financial stability.

Despite the concessions, some industry analysts remain skeptical about the tender’s attractiveness. Former casino superintendent Francisco Leiva has criticized several provisions, particularly the requirement to maintain the entire workforce, including positions of trust, arguing that incoming operators would inherit substantial severance and labor costs. He also warned about rules stipulating that infrastructure investments must revert to municipal ownership at no cost after 15 years, suggesting that without further revisions the process could struggle to attract bidders.

The tender comes at a challenging moment for Chile’s land-based casino sector, which has experienced fluctuating revenues in recent years even as spending per visitor has increased, raising broader questions about the long-term sustainability of the industry.