International edition
June 20, 2021

Chile

Enjoy loses over USD 100 M in H2, considers reopening casinos

Enjoy loses over USD 100 M in H2, considers reopening casinos
It is worth noting that gaming venues in Chilean jurisdictions will be allowed to open once each city reaches phase 5 of the country’s “lockdown easing” plan.
Chile | 09/01/2020

During the first half of 2020, the casino group disclosed over USD 100 M in losses due to the coronavirus shutdown. Company officials have unveiled a reopening plan for the next few months, that will be set in motion once health authorities allow it.

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n light of the ongoing pandemic and the subsequent closure of the company’s gaming venues, Enjoy reported a loss in the amount of USD 760,000 in the second quarter of 2020; and accumulated losses for the second half of the year of USD 112.3 M, as of June.

Moreover, the casino group’s financial results were impacted by the write off of a group of assets made after an impairment test.

"This impairment adjustment had to be made as a consequence of the pandemic’s impact on the results and the current and future uncertainties related to Enjoy’s operations in Chile, Argentina, and Uruguay, but it will have no impact in the company’s liquidity whatsoever," the report said.

Still, Enjoy officials have announced the development of a reopening plan, which, if and when the company obtains the relevant authorization from the health authority, could be implemented in the next few months.

According to Enjoy, in the development of the reopening plan, the company included all of the health and safety measures required by the authorities, such as social distancing restrictions and a limited capacity of 50 percent, among others.

"We have studied customer behavior in large gaming centers such as Las Vegas, focusing on the guests’ full experience on the gaming floor, their behavior, interactions, and health and safety perceptions. The analysis, together with other customer behavior studies conducted in Chile, have allowed us to develop over 100 customized protocols that have already been adopted at our casinos in preparation for future reopenings in different cities in Chile," said Enjoy’s Corporate Operations Manager.

In addition to creating these protocols, the company has worked with different health experts in the development of new procedures for employees and suppliers, taking into account the different circumstances that exist in each city. 

"We have worked with many external consultants and established roundtables with employees and unions from each of Enjoy’s units in the country," Garcia explained.

It is worth noting that gaming venues in Chilean jurisdictions will be allowed to open once each city reaches phase 5 of the country’s “lockdown easing” plan.

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