Enjoy, the leading operator of casinos and entertainment centres in Chile, was launched yesterday on the local stock exchange at an opening price of 54 pesos before the share price stabilised at 49 pesos. Controlled by the Martinez family, Enjoy had placed 30% of the company in the market.
Javier Martinez, Enjoy CEO, commented, “The first real challenge we have is to make the investments profitable on this huge project we have undertaken of more than US$340 million, and I think that future opportunities in this industry are very relevant.” The company has said it will use the funds to finance and reinforce expansion plans.
Apart from its businesses in Chile, Enjoy operates a casino hotel in Argentina and is looking at entering the European market. The company is the first in the gaming industry in Latin America to be quoted on the stock exchange and its
IPO created a strong demand with investors. The minimum price fixed by Enjoy and its advisors Larain Vial was 30 pesos and total demand was nearly US$215 million.
Enjoy operates seven casinos in Chile, in the cities of Antofagasta, Coquimbo, Viña del Mar, Santa Cruz, Pucon and Puerto Varas, and has been granted another licence for a casino in Chiloe. Its Argentinean casino is in Mendoza. (E-07.09.09)
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