pandemic. No new operators are taking part in the bidding licence, but current operators are. Te 15-year concessions will be sold to the highest bidder, rather than giving preference to current operators.


Tis has caused operators to complain that the government has reneged on the terms of the licences granted back in 2005. During the first tender operators invested so much in infrastructure projects with the understanding that they would have preferential rights to renew licences for another 15 years. Tat promise was repeated in 2015, when a new casino law was enacted, according to the operators. Te SJC went ahead with it anyway and in October last year announced that it had received 11 offers for casino licence renewals.


Applications were received for nine of the 12 spots available as of 2023.


OPERATORS


Tere have been significant changes amongst the leading casino operators themselves. In August 2020, Nueva Inversiones Pacifico Sur became the sole owners of Sun Dreams, as they bought out Sun International, a South African casino company that owned approximately 65 per cent of the stake in Sun Dreams in an agreement valued at US$160m.


In October, Chilean company, Enjoy, confirmed that it had reached an agreement to merge its gaming and hotel business with that of Sun Dreams. Te merger would create the largest


operator in the region. Enjoy operates casinos in the Chilean cities of Antofagasta, Coquimbo, Viña del Mar, Rinconada, Santa Cruz, Pucon and a casino in the Argentinean city of Mendoza, equating to 37.6 per cent of the market. Dreams is currently the largest casino operator in Latin America. In Chile, it operates casinos in Iquique, San Francisco de Mostazal, Temuco, Valdivia, Coyhaique and Punta Arenas; plus eight casinos in the city of Lima, Peru; two operations in Cartagena de Indias in Colombia; two operations in Panama City, Panama and one casino in Mendoza, Argentina. It has a 38.8 per cent share of the Chilean market.


In January, in a presentation to shareholders, the firm highlighted that the merged company - which will be called "Dreams Enjoy SA,"- will


WIRE / PULSE / INSIGHT / REPORTS P35


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