Dreams and Enjoy, Chile’s two largest casino operators, have announced that they are considering merging. The move is seen as a way to boost profitability as traffic in their facilities recovers from a drop caused by the COVID-19 pandemic last year.
The deal, which is still under consideration and will require regulatory approvals, would create a new company with Dreams owning 63.9 percent and Enjoy owning 36.1 percent, according to separate securities filings filed by both companies late Monday.
During the pandemic’s lockdowns last year, Dreams and Enjoy lost money because they had to close casinos and hotels.
The merger could be advantageous to both companies.