0
0
[ad_1]
Dreams and Enjoy release three economic reports affirming their imminent merger in Chile – Yogonet International
On November 10, Chilean casino operator Dreams sent an extensive letter to the National Economic Prosecutor’s Office. Five months had already passed since the agency decided to extend to Phase 2 the analysis of its merger with Enjoy, which is still under review.
In the resolution of the entity directed by Ricardo Riesco, it weighed its presumption that the association – through which Dreams Enjoy S.A. will be born, controlled 64% by the Fischer group and 36% by the shareholders of Enjoy – could worsen the offers in the bids for permits, reduce the quality of the service, affect the price, take advantages from the complementation of the bases of high-value clients, and facilitate conducts oriented to reduce profits, among others. And that was where Dreams’ brief was aimed.
“We ask the FNE to keep in mind a series of observations that allow us to rule out such preliminary risks,” said the operator, through its lawyers Julio Pellegrini, Pedro Rencoret, and Catalina Sierpe.
In 20 pages, Dreams used arguments based on three studies that both parties presented at the end of September to the agency. The first, submitted by Enjoy, was carried out by Compass Lexecon; the second, by Gerens, was carried out at Dreams’ request, as well as the last one, requested by the economist Jorge Tarzijan. All of them were aimed at evaluating the scope of the merger of the so-called “Phoenix Project”, which is the term given internally to the operation.
The “Analysis of the effects on competition of the Enjoy/Dreams merger” is the 85-page report by Compass Lexecon, prepared by Juan Pablo Montero and Fernando Coloma Ríos. Then there is the “Report on the Horizontal Merger of Gaming Casinos between Dreams S.A and Enjoy S.A to be submitted to the National Economic Prosecutor’s Office”, 81 pages, prepared by Gerens. And finally, we find the “Analysis of the merger between Dreams S.A. and Enjoy S.A.”, which was developed by Jorge Tarziján in 52 pages.
All the reports started by explaining the industry. In Chile, there are 24 Casinos and there can only be a maximum of three per region, except for the Metropolitan Region, where they are prohibited. In addition, they cannot have a distance of fewer than 70 kilometers between one another, and all of them must be awarded in a public bidding process, with a duration of 15 years.
Your Most Trusted Casinos for 2023!
Dream Catcher is Live at Goldman Casino and Offers the Opportunity for some stunning wins up to 40x with Truly Live Presentation! Not Only That, deposit TODAY as a new player and get 100% up to £100 Extra Free to Play + 20 Free Spins on Book of Dead Hit Slot* LIMITED TIME OFFER!!!
*18+ Only New Players Only. Wager from real balance first. 50X wager the bonus. Contribution varies per game. selected games only. Wager calculated on bonus bets only. Bonus valid 30 days / Free spins valid 7 days from receipt. Max conversion: 3x the bonus amount or from free spins: £20. Withdrawal requests voids all active/pending bonuses. Excluded Skrill and Neteller deposits. Full Terms Apply.
Wild West Slots at The Fastest Paying Casino in the West!
Goldman Casino has been growing in popularity since 2016, making them one of the best go-to real money online casinos on the market. Goldman Online Casino is powered by over 30 of the best software providers, and its games are provided through an easy-to-use web-based platform.
Get 100% up to £100 Free and 20 Free Spins on Book of Dead when you Deposit!
*18+ Only, New Players Only. Wager from real balance first. 50X wager the bonus. Contribution varies per game. selected games only. Wager calculated on bonus bets only. Bonus valid 30 days / Free spins valid 7 days from receipt. Max conversion: 3x the bonus amount or from free spins: £20. Withdrawal requests voids all active/pending bonuses. Excluded Skrill and Neteller deposits. Full Terms Apply
Start Today: Play with Real Money NOW!
More Tried, Tested & Trusted Online Casinos - Available to Players in over 177 Countries!
SlotJar Safe Online Casino
Only the longest established UK casinos, All transactions 100% verified & monitored, fully regulated RNG's, Fastest Paying UK Casinos, Live-Chat and friendliest customer service, 177+ supported countries. 100% satisfaction guarantee.
Lucks Casino is well-trusted and here to stay. LucksCasino.com takes advantage of a full suite of top-tier games, meaning you will always be fully entertained. Check out the deals on the site right now!
- Get 100% up to $€£200 Bonus Today!*
*18+ Only, New Players Only. Wager from real balance first. 50X wager the bonus. Contribution varies per game. selected games only. Wager calculated on bonus bets only. Bonus valid 30 days / Free spins valid 7 days from receipt. Max conversion: 3x the bonus amount or from free spins: £20. Withdrawal requests voids all active/pending bonuses. Excluded Skrill and Neteller deposits. Full Terms Apply.
Start Today: Play with Real Money NOW!
Play Securely at LucksCasino.com
SlotJar is your slots pay by phone bill and Online Slots UK Casino jackpots website – It’s not a new casino, it’s been established since 2014, and is one of the most popular slots sites for online and phone payment real money games. Play at SlotJar today and receive a great bonus when you deposit. Play over 2800 different games.
Get 100% Bonus Up to £200 Now!
*18+ Only Full Terms Apply.
Start Today: Play with Real Money NOW!
Fishin' Frenzy Megaways (TM) is a Top UK Slots Game with Huge Rewards! Get the boats to come in and watch your stake multiply x£££ at Lucks Casino!
**18+ Only, New Players Only. Wager from real balance first. 50X wager the bonus. Contribution varies per game. selected games only. Wager calculated on bonus bets only. Bonus valid 30 days / Free spins valid 7 days from receipt. Max conversion: 3x the bonus amount or from free spins: £20. Withdrawal requests voids all active/pending bonuses. Excluded Skrill and Neteller deposits. Full Terms Apply.
Start Today: Play with Real Money NOW!
Lucks Casino has been entertaining the gambling masses internationally, since 2015, and continues to offer the finest quality table games with bonuses available throughout the year! Lucks allows you to play on mobile or desktop and cash out quickly in £$€. Players are supported in over 177 countries. Enjoy over 2,500 superb games from the best names in the business!
*18+ Only New Players Only. Wager from real balance first. 50X wager the bonus. Contribution varies per game. selected games only. Wager calculated on bonus bets only. Bonus valid 30 days / Free spins valid 7 days from receipt. Max conversion: 3x the bonus amount or from free spins: £20. Withdrawal requests voids all active/pending bonuses. Excluded Skrill and Neteller deposits. Full Terms Apply.
Triple Edge Poker by Betsoft is a thrilling and engaging video poker game that has become increasingly popular among players. The game offers a unique twist on traditional poker and provides players with an immersive gaming experience that is both entertaining and potentially rewarding.
The Advantages of Playing Triple Edge Poker:
- Unique gameplay: Triple Edge Poker introduces a new twist on the classic game of poker, as players are able to play three hands at once instead of just one. This increases the level of excitement and increases the player's chances of winning.
- High-quality graphics: Betsoft is known for its top-notch graphics, and Triple Edge Poker is no exception. The game features realistic and detailed card and table graphics that are sure to immerse players into the game.
- Great payouts: Triple Edge Poker offers players the opportunity to win big, with payouts that are often higher than traditional video poker games.
- Convenient and accessible: Triple Edge Poker can be played on desktop and mobile devices, making it convenient for players to access and play the game from wherever they are.
- Exciting bonus features: Triple Edge Poker features several exciting bonus features, including the chance to win extra payouts and participate in bonus rounds.
- Overall, Triple Edge Poker by Betsoft is a great choice for players who are looking for a unique and thrilling video poker experience. The game's combination of exciting gameplay, high-quality graphics, and great payouts make it a must-try for any fan of video poker.
*18+ Only New Players Only. Wager from real balance first. 50X wager the bonus. contribution varies per game. selected games only. Wagers are calculated on bonus bets only. Bonus valid 30 days / Free spins valid 7 days from receipt. Max conversion: 3x the bonus amount or from free spins: £20. Withdrawal requests void all active and pending bonuses. excluded Skrill and Neteller deposits. Full Terms Apply.
Play Online Casino at TopSlotSite.com Get 100% Welcome Bonus up to $€£100 and 20 Free Spins*. Enjoy over 1000 Online Casino & Slots Games NOW! t&c's Apply
100% Satisfaction guaranteed! Yes, Top Slot Site is a Gambling Slot Site Where you can play for Real Money and Get your Winnings with Total Ease. So Relax, Select from over 1000 Superb Games and Enjoy our Live Online Gambling and Casino Betting Mecca.
*18+ Only, New Players Only. Wager from real balance first. 50X wager the bonus. Contribution varies per game. selected games only. Wager calculated on bonus bets only. Bonus valid 30 days / Free spins valid 7 days from receipt. Max conversion: 3x the bonus amount or from free spins: £20. Withdrawal requests voids all active/pending bonuses. Excluded Skrill and Neteller deposits. Full Terms Apply.
Established in 2014 and with over 2800 superb games including Slots, Live Casino, Roulette, Blackjack, Instant win and much more TopSlotSite.com is certain to have a game suited to your needs.
Play Online Casino at TopSlotSite.com Get 100% Welcome Bonus up to $€£100 and 20 Free Spins*. Enjoy over 1000 Online Casino & Slots Games NOW! t&c's Apply
100% Satisfaction guaranteed! Yes, Top Slot Site is a Gambling Slot Site Where you can play for Real Money and Get your Winnings with Total Ease. So Relax, Select from over 1000 Superb Games and Enjoy our Live Online Gambling and Casino Betting Mecca.
*18+ Only, New Players Only. Wager from real balance first. 50X wager the bonus. Contribution varies per game. selected games only. Wager calculated on bonus bets only. Bonus valid 30 days / Free spins valid 7 days from receipt. Max conversion: 3x the bonus amount or from free spins: £20. Withdrawal requests voids all active/pending bonuses. Excluded Skrill and Neteller deposits. Full Terms Apply.
GoldmanCasino.com is one of the leading online gaming destinations, offering players a wide range of exciting games and endless opportunities to win big. One of the most popular games at the casino is 20p Roulette, a classic casino game that has been enjoyed by players for generations.
This exciting game combines the thrill of chance with the excitement of spinning the wheel, making it the perfect choice for anyone looking for an entertaining and potentially lucrative gaming experience.
Roulette is a simple game to play, with players placing their bets on the numbers or colors they think the ball will land on. The 20p stake means that anyone can enjoy playing this classic game, whether you're a seasoned player or just starting out. With the ease of playing from the comfort of your own home, you can now enjoy the thrill of spinning the wheel without ever having to leave your house.
At GoldmanCasino.com, you'll find a range of different roulette games, including European Roulette and American Roulette. The games are designed to be as realistic as possible, with excellent graphics and sound effects that bring the excitement of the casino to your screen. You'll also find a variety of different betting options, including inside bets and outside bets, so you can choose the type of bet that suits you best.
Another great feature of GoldmanCasino.com is the range of promotions and bonuses available to players. Whether you're a new player or a seasoned pro, you'll find a range of offers that will help you maximize your winnings. For example, the welcome bonus gives new players a chance to double their first deposit, giving them more money to play with and a better chance of hitting a big win.
In addition to the bonuses and promotions, GoldmanCasino.com also offers a range of safe and secure banking options. Whether you prefer to use your credit card, e-wallet, or bank transfer, you'll find a method that suits you. And with 24/7 customer support available, you can be confident that you'll always have help when you need it.
In conclusion, playing 20p Roulette at GoldmanCasino.com is an exciting and potentially lucrative experience. With a wide range of games, bonuses, and promotions, as well as safe and secure banking options, this is the perfect place for anyone looking for an enjoyable and rewarding online gaming experience. So why wait? Head over to Goldman Casino.com today and start spinning the wheel to see if you can win big!
*18+ Only, New Players Only. Wager from real balance first. 50X wager the bonus. Contribution varies per game. selected games only. Wager calculated on bonus bets only. Bonus valid 30 days / Free spins valid 7 days from receipt. Max conversion: 3x the bonus amount or from free spins: £20. Withdrawal requests voids all active/pending bonuses. Excluded Skrill and Neteller deposits. Full Terms Apply.
Welcome to LucksCasino.com, the ultimate online casino gaming destination! With over 2800 casino and slots games to choose from, you're sure to find your new favorite game here.
Our casino games include all the classics, such as blackjack, roulette, and baccarat, as well as a variety of exciting variations of these games. We also offer a huge selection of online slots, featuring everything from classic fruit machines to the latest video slots with stunning graphics and bonus features.
At LucksCasino.com, we pride ourselves on offering a safe and secure gaming environment. We use state-of-the-art encryption technology to ensure that your personal and financial information is always protected. Our games are independently tested for fairness by third-party auditors, so you can be sure that you're playing on a level playing field.
We also offer a range of convenient payment options, including credit and debit cards, e-wallets, and bank transfers, so you can choose the method that works best for you. And if you ever need help or support, our friendly and knowledgeable customer service team is available 24/7 to assist you.
As a new player at Lucks Casino.com, you'll be eligible for a range of exciting bonuses and promotions. Our welcome bonus package includes a generous match bonus on your first deposit, as well as free spins on selected slots. We also run regular promotions, such as cashback offers, prize draws, and leader board tournaments, so you can enjoy even more chances to win.
So why wait? Sign up to LucksCasino.com today and start playing your favorite casino and slots games! With over 2800 games to choose from, unbeatable bonuses and promotions, and a safe and secure gaming environment, you're sure to have a fantastic gaming experience.
*18+ Only, New Players Only. Wager from real balance first. 50X wager the bonus. contribution varies per game. selected games only. Wagers are calculated on bonus bets only. Bonus valid 30 days / Free spins valid 7 days from receipt. Max conversion: 3x the bonus amount or from free spins: £20. Withdrawal requests void all active and pending bonuses. excluded Skrill and Neteller deposits. Full Terms Apply.
SlotJar is your slots pay by phone bill and Online Slots UK Casino jackpots website – It’s not a new casino, it’s been established since 2014, and is one of the most popular slots sites for online and phone payment real money games. Play at SlotJar today and receive a great bonus when you deposit. Play over 2800 different games.
Get 100% Bonus Up to £200 Now!
*18+ Only Full Terms Apply.
Land the valuable symbols on this amazing slot and experience real JOY and the chance of almost unlimited free spins bonus rounds!
Top Slot Site is packed with over 2800 top slot games for you to enjoy. Get started at this fantastic slots site today!
**18+ Only, New Players Only. Wager from real balance first. 50X wager the bonus. Contribution varies per game. selected games only. Wager calculated on bonus bets only. Bonus valid 30 days / Free spins valid 7 days from receipt. Max conversion: 3x the bonus amount or from free spins: £20. Withdrawal requests voids all active/pending bonuses. Excluded Skrill and Neteller deposits. Full Terms Apply.
Lucks Casino is well-trusted and here to stay. LucksCasino.com takes advantage of a full suite of top-tier games, meaning you will always be fully entertained. Check out the deals on the site right now!
- Get 100% up to $€£200 Bonus Today!*
*18+ Only, New Players Only. Wager from real balance first. 50X wager the bonus. Contribution varies per game. selected games only. Wager calculated on bonus bets only. Bonus valid 30 days / Free spins valid 7 days from receipt. Max conversion: 3x the bonus amount or from free spins: £20. Withdrawal requests voids all active/pending bonuses. Excluded Skrill and Neteller deposits. Full Terms Apply.
Start Today: Play with Real Money NOW!
Exciting Theme: The game's theme is based on ancient Egyptian mythology, which creates an exciting and immersive experience for players.
Compass Lexecon highlights that “no coincidence has been observed between the parties in the last bidding processes, nor in the processes prior to 2015″. They have only coincided in the awarding of municipal casino permits in 2018, where they were the only two participants, they point out.
“Something similar happened with the processes where permits granted in the first phase were re-bid, and which expire between July 2023 and May 2024, where out of a total of 12 quotas, in only 10 the offer of the incumbent was presented”, reinforces Gerens.
According to the consultants, however, this low competitive tension has to do with the change in the regulations that took place in 2015. “It is due to a previously existing problem in which the operation does not have any interference,” Gerens points out.
Additionally, Compass Lexecon indicated that the closest processes that could be affected by the operation are limited. They correspond to the permit for the Casino Enjoy Antofagasta, after Enjoy desisted from this; to those referring to the Casinos of Coyhaique and Castro, which will be made in 2023, and the one of 2027 for the casino of Ovalle.
“According to SCJ data, in 2019 these four Casinos represented only 8.2% of the gross gaming revenues of the total industry. Thus, prior to the perfecting of the operation, the permits associated with the most relevant Casinos in the country will have already been tendered, and in the coming years the permits of four Casinos that, together, represent a smaller percentage of the industry will be tendered”, they highlighted.
As of January 2022, eight economic groups held the majority of operating permits and municipal casino concessions.
Enjoy was the leader with 35% of the licenses, followed by Dreams with 26%, and then by Marina del Sol-Clairvest, with 17%. The Fisher Group operator had first place in revenues, with 38.8%, followed by its future partner with 37.6%, according to information from the SCJ. In terms of visitation, Enjoy captured 38%, and Dreams, 32%.
Compass specifies that, in other cases, the FNE has considered that 259 kilometers are a sufficiently long distance to rule out the existence of overlapping between two Casinos. In this situation are Dreams Iquique and Enjoy Antofagasta, which are 422 kilometers apart; Enjoy Coquimbo, which is more than 500 kilometers away from the closest Dreams Casinos, which correspond to Casino Monticello and Dreams Iquique. And the Dreams Casinos in Punta Arenas and Coyhaique, are isolated from the rest of Enjoy’s Casinos since the closest one is in Chiloé.
Thus, the units that would not comply with this rule would be the Casinos in the central zone: Enjoy Viña del Mar, Enjoy San Antonio and Enjoy Rinconada, and Casino Monticello. And those of La Araucanía: Enjoy Pucón and Dreams Temuco.
A previous report of the FNE already concluded that there is no overlap between those Operated By Enjoy and that there was an overlap between Rinconada and Monticello, due to the public in Santiago.
Clearly, both operations compete for the inhabitants of the Metropolitan Region. Now, studies indicate that this would not affect free competition, since it is an industry where the prices and profits of machines and games are regulated by law.
The existence of Rinconada and Monticello is widely justified by the large number of people living in the Metropolitan Region, thus making the establishment of more than one casino necessary to reach the public that frequents that area.
“Certainly, it was not the objective of the regulatory authority that these Casinos compete with substitutes in a market”, Tarzijan points out.
In the case of Enjoy Pucón and Dreams Temuco, the FNE focused on the fact that most of the clients come from the province of Cautín.
In Gerens, the reports indicate that although both are in that area, their distance is 107 kilometers by car, almost two hours. They point out that when the analysis is made at the commune level, the overlaps are very minor.
Customer database
There are five categories of Enjoy Club members: Silver, Gold, Platinum, Diamond, and Seven Stars. The firm divides these categories into two groups, the massive clients, which are those belonging to the first two categories, and the high-value ones, which are grouped in the other three. The cut-off point for those denominations is an annual bet amount of more than $80 million.
Dreams, meanwhile, classifies its clients into five categories: Dreams or Sun, Gold, Black, Platinum, and One. For the latter, it is necessary to accumulate 1,500,000 points. For each $1,000 bet in machines, the client receives one point. At the tables, this amount varies.
Although the FNE considers as a risk that the merged entity could have a combined base of high-value customers and take advantage of this over the competition, the reports refute this. They indicate that each venue builds loyalty with the users that are closest to their location. And they hold loyalty events regardless of the competition in their vicinity.
“Given the regulation of the casino market, where local geographic markets are assigned to the different operators, it does not seem evident that a greater availability of data will have a detrimental effect on consumers,” Tarziján points out.
Given the deadlines, the FNE’s resolution is expected by the end of this year or, at the latest, at the beginning of next year. The FNE has already explained the risks, while the operators have explained their arguments. Now it remains to be seen whether, through mitigations, the agency will give its approval to Project Phoenix.
[ad_2]
#Dreams #Enjoy #release #economic #reports #affirming #imminent #merger #Chile
