Casino group Enjoy seeks funding from government after reported loss of US$13.3m this quarter

These measures were seeked to safeguard Chile's industry

Enjoy's decision to ask for government funding was based on the current financial situation of the company.

Casino operator Enjoy, entered into a judicial reorganization process in the Chilean courts in order to avoid bankruptcy due to the financial challenges it faced because of COVID-19. Enjoy Casino reported a loss of US$13.3m in the first three months of the year, compared to the earnings of US$9.8m in the same period last year. 

The biggest impact felt by the group was at Casino Rinconada, the casino closest to Santiago and Enjoy Punta del Est. Both locations have been badly affected after having been closed since 16th March.

Enjoy said that the decision to ask for government funding was made based on the current financial situation of the company, the expected flows for the coming months and the payment situation with the company’s creditors.

One of the reasons that justifies this measure is the situation of the COVID-19 pandemic, as a result of which the Superintendency of Gambling Casinos instructed the closure of casinos. 

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