wants casinos to agree to a five per cent increase in their gross income tax rate.


POST-COVID OUTLOOK


It is unlikely that casinos will be reopened until later this year. An increasingly acrimonious row looks imminent over the licensing terms of the new tender. Despite the pandemic, the new licensing process went ahead in July for 12 casinos that will be made available between July 29, 2023 and May 14, 2024.


Te Chilean Association of Gambling Casinos (ACCJ) wants the new operating permits to be governed by the same rules that existed 15 years ago, when the concessions were first awarded. Tis would be in accordance with the regulations in force when their casino permits were granted. Licensed operators argue that they were granted certain rights when it came to to the renewal of their licences and these rights are being ignored.


Te association said in a statement: “Over a decade ago, we received a bona fide invitation from the government of Chile to invest in the local casino industry... what truly sealed the deal for us was that the bidding conditions granted a licence term of 15 years, with a true option to extend such term for another 15 year period provided that high impact projects were developed and significant investments were made across the country... we do not comprehend why, in a puzzling and damaging move, the SCJ is implementing a license renewal


Head of the SJC, Vivien Villagrán Acuña, has defended the move saying that laws were modified in 2015 as part of the municipal tender process, meaning that new operators will be able to bid for the licences that are now up for renewal.


“It is clear that the economic uncertainty that has been triggered in the framework of the pandemic generates a complex scenario. For this reason, the undersecretariat of Finance has convened a space for dialogue and analysis to which all actors have been invited, with a view to presenting a bill that protects in the best possible way both the development of this industry and the income fiscal and municipal that this contributes,” she said in a recent statement.


Te association announced that it will commence legal proceedings against the Chilean State before an international court of justice. Via a statement published in September the ACCJ announced that after being invited by the Finance Ministry to address the effects of the pandemic and the model for the new tender for the 12 operating permits, that the talks have been abandoned.


Meanwhile, the heads of the Chilean municipalities that house casinos in their territory are considering requesting compensation from the government, due to casino closures during the pandemic.


NEWSWIRE / INTERACTIVE / MARKET DATA P77


process that violates the law, does not comply with the regulatory framework in force, and unilaterally changes the terms that had been already agreed.”


About 2.5 million people are out of work. Chile’s GDP


decreased by 14.1 per cent in the second quarter,


according to the Central


Bank after the coronavirus pandemic impacted


economic activity with the exception of the mining


sector. Among the worst-hit sectors were manufacturing, construction and the hotel and restaurant sectors.


Casino operators were forced to suspend all operations on March 18.


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