Supplier News
Chile – Revenues up by over 17 per cent in Chile
By Phil - 10 December 2014
According to statistics released by The Chilean Gaming Control Board (SCJ) gross gaming revenues for the 16 casinos operating in Chile stood at US$38.5m in October a 17.8 per cent increase compared to the previous month.
The 16 municipalities and 11 regions where the casinos are located received a total of US$6.4m in gaming tax revenue while casinos generated an additional US$2.2m in tax on entrance fees for the state. On top of this amount the casinos also generated US$6.1m in gaming VAT.
In terms of gross gaming income generated by the casinos, the Monticello Grand Casino came in first place with 27 per cent (US$6.128m). In second place came Casino Rinconada with 15.5 per cent or US$3.524m of market share. Meanwhile, in third place was Marina del Sol with 12.1 per cent – a US$2.750m share of the market. This was followed by Enjoy Antofagasta 9.3 per cent (US$ 2.104m), Dreams Temuco 6.6 per cent (US$1.490m), Dreams Punta Arenas 5.0 per cent (US$ 1.126m), Casino Sol Calama 4.7 per cent ($1.076m), Dreams Valdivia 3.8 per cent (US$854m), Gran Casino de Talca 3.7 per cent (US$839m), Antay Casino & Hotel 2.8 per cent (US$632m), Casino Sol Osorno 2.1 per cent (US$486m), Casino Gran Los Ángeles 1.8 per cent (US$405m), Casino de Colchagua 1.7 per cent (US$394m), Casino de Juegos del Pacífico 1.7 per cent (U.S$381m), Dreams Coyhaique 1.3 per cent (US$294m) and finally Enjoy Chiloé 0.9 per cent (US$211m).
According to the latest statistics released by the SJC, the 9,635 slot machines in operation in October handed out an average of 93.9 per cent of the stake. While the total bets made on slot machines stood at $503.6 m the prizes handed out stood $472.9m leaving a total win for the casinos of US$30.m.
As revenues increase the casino industry in Chile is set to continue to expand with the municipal casinos now scheduled to come under the control of the Gaming Control Board in two years time. According to the terms of Chile’s 2005 act, the eight casinos that were already licensed before 2005 were set to come under the supervision of the Chilean Gaming Control Board at the end of next year, and the tax would be split equally between the local municipality and the central government. However agreement has been reached whereby the casinos, which were already licensed before the new act, now have an additional two years before their licences expire.
A number of local governments had launched a campaign to ensure that their cities do not lose out on gaming tax revenue and warned of the devastating effects the lack of casino revenue would have within their jurisdictions should they lose the right to run a casino. The tender process for the municipal casinos will begin next year and will be open to both international and local operators.
