Enjoy Reports CLP 24.7 Billion Loss as Online Betting Adds Pressure to Chilean Casinos

Enjoy, a Chilean hotel and casino company, announced losses of CLP 24.707 billion in the second quarter of 2026, and a drop in revenues. The company said part of the challenging operating environment was due to shifting consumer behaviour and a new trend of online betting platforms and unregulated or illegal casinos in Chile.

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The loss is a significant turnaround from the CLP 43.049 billion gain in the quarter ended in December 2025, according to data submitted to the Chilean Financial Market Commission (CMF). Revenue also eroded, falling to CLP 11.380 billion in the second quarter, which is 7.8% less than in the previous quarter.

Revenue Declines Despite Higher EBITDA

When compared to the first half of 2026, Enjoy’s performance was further hampered. The company earned CLP 22.614 billion in revenue between January and June of this year, down 16.41% from the same period a year ago, and suffered losses of CLP 36.105 billion, versus profits of CLP 39.567 billion a year earlier.

EBITDA, which excludes the impact of funding and investment costs, rose marginally to CLP 4.702 billion at the end of June from CLP 4.573 billion in the first half of 2025, despite the revenue loss. The improvement was mostly due to cost control taken to match lower income, said Enjoy.

This rise derives primarily from the company’s (newco 3) new income and cost structure, which are a consequence of its expenses being controlled.

Enjoy Highlights Competition From Online Betting

As part of its report, Enjoy has also analysed the level of competition in the Chilean land-based casino sector. The company highlighted continued expansion of betting companies that are not subject to a specific regulation and unregulated slot machine rooms in various regions of the country.

Currently, betting and online gaming companies in Chile operate outside a specific regulatory framework, and there are unregulated slot-machine shops in various cities of the country that have captured a large share of the market for games and betting.

These operators are helping to drive a larger shift in consumer preferences, according to Enjoy. The company feels that online wagering and gaming choices have come into vogue, which has posed a competitive threat to the traditional casino.

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These operators have helped to drive a shift in user habits away from the land-based casino towards remote and alternative gaming and betting options, and they have proven to be a serious threat to land-based casino operators.

Broader Challenges for Chile’s Casino Industry

“The emergence of these operators has accelerated the change in users’ consumption habits toward remote and alternative forms of gaming and betting and has become strong competition for traditional land-based casinos.”

The company is also subject to the reverberations of two judicial reorganisation processes, the second of which was reached in August 2024. In addition, Enjoy has renewed the casino licenses in Viña del Mar, Pucón and Coquimbo.

Casino Licensing Adds Further Uncertainty

Enjoy also voiced concerns over the outcomes of the latest casino licensing process in Iquique, Viña del Mar and Puerto Varas.

“The latest bidding processes for operating permits for casinos in Iquique, Viña del Mar and Puerto Varas have produced results below expectations: some were declared unsuccessful, others had only one bidder, and in other cases the authority determined that the requirements established in the tender rules were not met. The design of the tenders appears to respond to a scenario that is now very different from the one that existed a few years ago.”

Early in September, Enjoy announced its early resignation as the operator of the casino in the municipality of Los Ángeles. The move follows a series of restrictions, challenges and threats that the land-based casino business is encountering in Chile, as online gambling remains unresolved. The move comes at a time when the land-based casino business is facing several other pressures, challenges and threats, including the unresolved situation of the online casino business in Chile.

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Source: SBC Noticias