The Enjoy and Dreams companies reached an agreement to merge, in a process that has yet to be approved by the authorities and which, if approved, will allow them to operate 58% of the casinos in Chile.
Casino companies Enjoy and Dreams announced Thursday night that they have reached a merger agreement, tAfter completing all the stages of the process that began on September 28, and now they are waiting for the alliance to be approved by the authorities.
According to a statement issued by the companies, Enjoy will be the successor entity and the shareholders of Dreams – controlled by the Fischer group – will reach 64% of the shares of the combined entity, while the current Enjoy shareholders will have the remaining 36%.
Enjoy’s chairman of the board, Henry Comber, valued the merger in question, assuring that it will allow a Chilean company to lead the casino market in Latin America and open up new lines of business.
“The merger of Dreams and Enjoy will consolidate the leadership of a Chilean company in the casino industry in Latin America and It will allow the promotion of new business lines such as e-gaming and other initiatives in the entertainment sector, those that will benefit from the greater scale and geographic diversification, which will undoubtedly allow us to deliver a better value offer for our clients ”, assured Comber.
Likewise, this operation is still subject to the approval of the Superintendency of Gaming Casinos, the Commission for the Financial Market and the National Economic Prosecutor’s Office, as well as other government authorities in the countries in which the merged companies maintain operations. It will also require, as appropriate, the authorization of the current creditors of both companies.
In addition, the final agreement must be approved by the respective extraordinary shareholders’ meetings of both companies and it is estimated that the operation will materialize during the next 9 to 12 months.
It should be noted that with the merged entity it will control 15 of the 26 gaming casinos in Chile, which corresponds to 58% of the industry, in addition to 12 operations spread over Argentina, Peru, Colombia, Uruguay and Panama.