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Chile: Viña del Mar faces revenue risk due to lower casino payment floor

Chile’s gaming regulator has set a 394,000 UF minimum annual payment for the next Viña del Mar casino concession, below the level sought by local and regional authorities.

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Chile: Viña del Mar faces revenue risk due to lower casino payment floor
Key Points
Chile’s gaming regulator set a 394,000 UF minimum annual payment for the next Viña del Mar casino concession
Local and regional authorities warn the lower threshold could weaken public revenues after Enjoy exits the operation in 2028

Chile’s Superintendence of Casinos of Gaming (SCJ) has set a lower minimum guaranteed annual payment for the next operator of the Viña del Mar casino than the level sought by local authorities. 

Under the bidding conditions, the regulator established a minimum annual payment of 394,000 unidades de fomento (UF), compared to the 670,000 UF floor proposed by municipal officials. The UF is an inflation-indexed accounting unit widely used in Chile for long-term contracts and public concessions, meaning the payment value adjusts daily in line with consumer prices.

The decision could significantly reduce revenue for both the city and the Valparaíso regional government once a new concession is awarded.

The payment threshold forms part of the bidding conditions following the authorized early withdrawal of Enjoy from the concession. The company, operating through Casino del Mar, was granted approval by the regulator’s Resolutory Council in August 2025 to relinquish its license due to financial difficulties. Under the terms of the decision, Enjoy will continue operating the casino until 2028 while maintaining its current payment obligations.

Viña del Mar currently receives 831,123 UF per year from the casino, making it the highest guaranteed annual payment in Chile’s casino industry. Mayor Macarena Ripamonti argued for a minimum guaranteed offer of 670,000 UF, with a lower floor of 605,000 UF, a position supported by the Valparaíso Regional Governor, Rodrigo Mundaca, during council deliberations.

Ripamonti said: “This vote is another sign that, in the casino industry, the rules are not applied equally. The cards are marked and always favor the same actors.”

The regulator’s decision implies a potential annual revenue gap of roughly 276,000 UF compared to the mayor’s proposal, raising concerns about fiscal stability once the transitional operating period ends.

During the 2018 bidding process, Viña del Mar set a 570,000 UF floor. While Dreams submitted a 580,000 UF bid, Casino del Mar secured the license with an offer of approximately 831,000 UF, an aggressive commitment that later contributed to Enjoy’s financial restructuring and two judicial reorganization processes.

Based on 2024 performance, the regulator estimates the casino will generate more than CLP 65.4bn ($72m) in gaming taxes, VAT and admission fees through 2027. The facility employs 589 workers. Under Chile’s gaming framework, 20% of gross gaming revenue is split evenly between host municipalities and regional governments, amplifying the broader fiscal impact of the new payment floor.

Good to know

On December 2025, Chile’s Comptroller General raised concerns with the SCJ after identifying deficiencies in its supervision of concession payments made by Casino del Mar to the municipality of Viña del Mar

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