This after carrying out a reciprocal due diligence through their respective "clean teams", thus completing all the stages of the process that began on September 28, 2021. The agreement will give rise to the largest casino operator in Chile.
Through a statement, the companies specified that 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 control 36%. remaining.
The companies estimated that the materialization of the merger will occur no later than 12 months. In this way, the new combined company will operate 15 of the 26 gaming casinos in Chile, in addition to 12 operations located in Argentina, Colombia, Panama, Peru and Uruguay.
Both companies sent their respective essential facts to the Commission for the Financial Market (CMF) where they detail the background that they subsequently reported through communications.
“The merger of Dreams and Enjoy will consolidate the leadership of a Chilean company in the casino industry in Latin America and will allow the promotion of new lines of business such as e-gaming and other initiatives in the entertainment sector, which will benefit from the greater scale and geographic diversification, which will undoubtedly allow us to deliver a better value offer for our clients,” said Henry Comber, chairman of the Enjoy board of directors.
“The new firm will combine all the experience of both groups and a financial strength that will allow it to robustly face the new challenges that the effects of the pandemic and the development of new technologies have imposed on the gaming and entertainment industry in Latin America,” said Claudio Fischer, president of the board of Dreams SA
Along with warning that the operation must be reviewed by the corresponding regulatory entities (FNE, and Superintendence of Casinos), they specified at the same time that the final agreement must be approved by the respective extraordinary shareholders' meetings of both companies and it is estimated that the operation materialize over the next 9 to 12 months.
Dreams / Enjoy Operations
Chile
Casinos, hotels, event centers and restaurants in the districts of Iquique, Antofagasta, Coquimbo, San Antonio, Rinconada de los Andes, Viña del Mar, Mostazal, Los Angeles, Temuco, Pucón, Valdivia, Puerto Varas, Castro, Coyhaique and Punta Arenas.
Argentina
Hotel Park Hyatt Mendoza and its casino.
Uruguay
Enjoy Punta del Este Casino & Resort.
Peru
Eight casinos and their associated assets in Lima, Tacna and Cusco, in addition to the Solbet.pe online gaming operation.
Panama
Ocean Casino in Punta Pacifica, in Panama City.
Colombia
Three casinos, one in Cartagena de Indias and two in Bogotá.
Source: GMB
