Esteban Rigo-Righi to step down as general manager of Chilean casino operator Enjoy

Enjoy, an operator in the gaming sector in Latin America, announced that Esteban Rigo-Righi will leave his position as general manager as of January 1, 2025, when he will be replaced by Carolina Gálvez Fuentes, current Investor Relations of the company based in Chile.

In a statement to the Financial Market Commission, the company indicated that, in an extraordinary session of the Board of Directors held on December 10, "Esteban Rigo-Righi agreed to terminate his employment relationship as of December 31, 2024, and on that date, he will leave his position as General Manager of Enjoy to take on new professional challenges."

"The Board of Directors thanks Mr. Rigo-Righi for his commitment, professionalism, and valuable contribution during his tenure and especially for the successful approval of Enjoy's judicial reorganization agreement," they added. The executive had been with the company for almost 15 years.

It should be noted that in early November, Enjoy announced that the Bankruptcy Court of the Southern District of New York recognized its judicial reorganization agreement, approved in Chile by the company's meeting of creditors on August 7, 2024.

Furthermore, Rigo-Righi's departure comes after the National Economic Prosecutor's Office (FNE) filed an injunction before the Court for the Defense of Free Competition (TDLC) against Dreams, Enjoy, and Marina del Sol, for the alleged crime of collusion to obtain casino licenses. For this, they demanded millionaire fines and the return of the obtained authorizations.

According to sources close to the company, consulted by the Chilean newspaper La Tercera, the departure of Rigo-Righi is "a logical change, given the end of the reorganization of the company initiated at the beginning of 2024."

As a result of this plan, Enjoy is divided into three new companies. The first, NewCo 1, will be in charge of operations in Punta del Este, Uruguay, and two real estate assets in Chile. NewCo 2 will manage the assets corresponding to casinos and hotels in Rinconada, Antofagasta, Chiloé, Viña del Mar, Coquimbo, Pucón, and the hotel in Puerto Varas. The remaining assets will remain under the management of Enjoy S.A., mainly composed of the San Antonio and Los Angeles operations.

Letter to workers

The Chilean media also revealed that the outgoing general manager sent an internal letter to Enjoy's workers to announce his departure. In it, he thanked his collaborators for their commitment and stated that the company had reached "a crucial milestone" in its reorganization process.

This milestone, he added, was reached after achieving “compliance with key conditions that will permit Enjoy to move forward in the restructuring that will allow the operations of our casinos and hotels to continue serving our customers and providing important sources of employment and development to each region and commune wherever these are located."

"During my almost 15 years at Enjoy, I have faced extraordinary challenges and lived enriching experiences together with a team of valuable professionals and excellent people. These were the most challenging years I have had in my career, and it was only possible to overcome them thanks to the excellent team I had the chance to work with," said Rigo-Righi in his letter.

The executive arrived at Enjoy in 2010 as manager of Planning and Management Control. In 2013 he became director of Administration and Finance of Enjoy Punta del Este and, subsequently, he was appointed CFO (Chief Financial Officer) of the company, to become CEO last February.