Enjoy Group Considers Selling LATAM Assets after Failed Merger

Details: Category: Gambling Industry; Created: Sunday, 06 August 2023 07:08

South African casino firm, Enjoy Group, contacted the Commission of Financial Markets of Chile to discuss the potential sale of its casinos in Uruguay and Chile. Also, the decision came after Enjoy failed to merge with DREAMS SA.

According to bookie pay per head experts, the April deadline for the merger between Enjoy and the firm came and went without action. Enjoy Group has been looking for alternative long-term strategic initiatives to increase profits ever since.

The news comes after a report by Diario Financiero on July 30 that Enjoy was selling its assets in Chile and Uruguay.

Enjoy Group to Sell LATAM Assets

According to sportsbook PPH reports, the corporation may gain from a deal if it sells its operations in Chile and Uruguay. Enjoy Group has been working with their financial advisor, ASSET Chile, to plan this transition. ASSET Chile aims to attract investors and strike a contract to help the firm thrive.

Enjoy vowed to keep the CMF updated on the status of the transaction and any pertinent developments.

Meanwhile, a measure to regulate and tax internet gambling has been introduced in Chile's legislature, suggesting that the country is still seriously considering doing so. After being stalled for a time, the bill finally gained traction in June, although it had been proposed in March. Lotera de Concepción, Polla Chilena de Beneficencia, and Teletrak are Chile's only reputable gambling operations.

According to a sportsbook watchdog, the gaming sector applauded the bill's progress but still needs further approval. Recent amendments to the law show the country's continued enthusiasm for investigating the potential of the internet market.

In other headlines from the LATAM region, the Brazilian sportsbook Galera.bet has become the newest member of the International Betting Integrity Association. It demonstrated the firm's commitment to preventing corruption in professional sporting events and stopping any form of betting on sports.

It is a huge step forward for the Brazilian gambling industry as it prepares to legalize sports betting. The Brazilian Institute of Responsible Gaming, a relatively new trade group, has spoken out against proposed changes to taxation laws, calling them "harsh" and "unsustainable."

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