Enjoy’s losses soar to $92m
Enjoy’s earnings, Mendoza’s health proposal, Colombian gambling forum +Más
Chile: Despite scooping $325m in revenue, Enjoy sees losses rise 56% in 2023.
In +Más: Brazilian Jockey club TV deal, dotbet domain ending debate.
Argentina: Mendoza proposes allocating 25% of gambling revenue to mental health.
Colombia: Lotería del Risaralda organizes legality forum on gambling.
The years go by, as quickly as you wink.
Enjoy results
You win some, you lose some: According to its financial report for FY23, Chilean casino operator Enjoy saw revenues of $324.8m, a 4% increase compared to 2022. However, during the same period, its losses increased by 56.3% to $91.6m.
The company recorded EBITDA of $2.2m in 2023, an 88% decrease (about $16.5m) compared to the previous year's figure, resulting in an EBITDA margin of 0.7% compared to 6% in 2022.
The operating loss of $91.6m was, the company said, due to a 7.7% rise in cost of sales and a 7.3% increase in administrative expenses, which offset the jump in revenues.
Successful surgery: In the report, Enjoy attributed the improvement in its annual revenues to “better operation” of its establishments in Chile, where sales grew by 8%. However, in Punta del Este (Uruguay) they fell by 6% due to lower casino retention and the effect of the exchange rate.
In Q4, revenues hit $88.1m (8.7% more than in 2022), but losses came in at $21.1m. In that same period, the operating margin reached $3.7m and EBITDA $4.3m, a 266.6% increase YoY.
CEO Esteban Rigo-Righi, said the results “indicate that this business is sustainable” and that they are “working to project the company adequately with our creditors.”
EveryMatrix Slot Trumps Player Behaviour Report provides operators with exclusive player behaviour insights from the world’s hottest online casino markets. The focal point of this MUST-READ series is a shareable Slot Trump country card featuring never-before-seen findings.
Discover Slot Trumps Brazil today!
+Más
The Brazilian Jockey Club (JCB) has signed an agreement with BandSports to televise its races. During the broadcasts, a QR code will appear on the screen that will allow viewers to place bets directly on the official JCB betting site.
Brazil’s Ministry of Finance is debating giving sports-betting and iCasino companies in the country exclusive use of the ‘.bet’ domain ending. Not having that web address extension would mean the company is operating illegally.
Colombia: The Medellín Lottery has reintroduced one of its most celebrated games, Raspa Ya, the instant prize game. The promotion increases the lottery prize pool to $10m.
Sports-betting and casino operator Apuesta Total is to continue its sponsorship of the National Paralympic Association of Peru (ANPP), reinforcing its strategy and commitment to the development of all Peruvian sports.
Chile’s Superintendence of Gaming Casinos (SCJ) has conducted training of officials from various municipalities and public services, Carabineros and the Investigations Police in the Valparaíso region, in the qualification requirements for operating electronic gaming machines, prior to the granting or renewal of a municipal license.
Mendoza’s mental health proposal
Mind games: The government of the province of Mendoza, Argentina, has presented a bill that seeks to allocate 25% of the revenue from gambling taxes to mental health and addiction programs of the Ministry of Health and Sports. If approved, the law will come into effect in 2025 and will affect the revenues generated by private casinos and online games registered in the province of Mendoza.
The aim of the project is to strengthen the Responsible Gaming Program of the Mental Health Directorate and to respond to the consequences of the problems that gambling can cause, both in terms of assistance and prevention.
Plan ahead: Mendoza is discussing another legislative initiative to create the ‘Provincial Plan for the Prevention of Online Gambling Addiction in the Educational Environment of Mendoza’, aimed at students in early childhood, primary and secondary education. The proposal seeks to prohibit “direct or indirect advertising... promotion by any means of activities or ludic attractions that encourage virtual betting, using information and communication tools, aimed at young people and adolescents” throughout the province.
The idea is to explain to students what gambling addiction is and the impact it has on people’s lives, considering the impulse to gamble and the socioeconomic and family condition of each student. Likewise, to provide teaching staff with the tools to identify, address and manage each situation correctly.
Colombian legality forum
You’ve been framed: The Lotería del Risaralda has held the first legality forum on games of chance within the framework of the supervision program, whose purpose is to combat illegal gambling in the department. The event emphasized that to combat clandestine gambling, it is crucial to maintain the alliance between bettors, companies operating in the region, law enforcement, government entities, municipal authorities and the media.
The forum was attended by the police and government secretaries of the municipalities of La Celia, Guática, Santuario, Apía, Dosquebradas and Pereira.
“We seek to fulfill one of our objectives and mission, which is to accompany legal buying and selling exercises [in gambling], thus contributing to transfers to the health system,” said Sandra Lucía Ospina Rincón, commercial head of Lotería del Risaralda, who also leads the supervision program.
Calendar
April 9-11: GAT Expo Cartenega 2024
Publication schedule
This is the English version of the LosIngresos+Mas newsletter published yesterday (April 3).
An +More Media publication.
For sponsorship inquiries email scott@andmore.media.