Chilean casinos yield US 45M revenue

Out of the total gaming tax revenue derived from the 18 casinos in Chile -and ruling out 7 with county permits-, 43% goes back to the regional and county administrations of the territories where they operate, and 57%, to general funds of the nation.

During May 2018, the 18 gambling casinos approved by Law No. 19.995 generated a total of $ 10,786 million (USD 16,610,440 at the current exchange rate) in taxes, out of which $ 4,649 million correspond to the regional governments and counties where they operate. Additionally, VAT-related 4,580 million and $ 1,556 million corresponding to the entrance fee to the gaming venues were infused into the state. 

The Chilean casino industry, 18 third-party investor venues and 7 with municipal permits, registered gross revenues of $ 40,227 million (almost USD 62 million) for May 2018, which implied a monthly variation of 8% against May 2017 and net growth of -0.2% in the last 12 months.

Regarding gross income recorded by the industry in general, non-municipal casinos totalled $ 28,685 million. This implies a real variation of 9.9%, compared to May 2017. As a result, the regulated industry presents an accumulated real growth of 0.6% in the last twelve months.

Regarding visitor spending, an average expenditure of $ 61,149 (USD 95) per visit was registered in May, translated into an interannual variation of 2.4%, reaching a 1.6% growth in the last 12 months.

The amount played in the month of May, in over 10,497 gambling machines, was 382.590 million (more than USD 593 million) for the 18 third-party casinos. The prizes paid to the players reached $ 358,817 million, equivalent to 93.8% of the total bet and as a result, the gross or win revenue corresponding to the game in slot machines was $ 23,773 million, which is equivalent to 82.9% of the total. total gross income.

The 13 regional governments and the 18 municipalities receive the funds from the gambling tax, the month following their payment by the operating companies. Therefore, these resources will be received by local governments in August.