Shares of Chile’s casino operator Enjoy slumped as much as 60% at the market open on Tuesday after the company announced its second restructuring in two years.
The stock hit the lowest this year after the company told regulators that it was unable to pay its creditors given liquidity issues amid disappointing post-pandemic growth. The company had already concluded a reorganization and bankruptcy proceeding in February 2022.
“It has been determined that this is the best alternative to provide sustainability to the company and create the new bases to adequately propel it into the future,” Enjoy said in the statement late Monday.
