The merger of Chilean casino giants Dreams SA and Enjoy has been scuppered as dealmakers declare “the process to be abandoned”.
The announcement was made via Chile’s Financial Markets Commission (CMF), which informed stakeholders that both companies had chosen to remain as separate businesses.
Merger terms had been agreed last year, in which Dreams shareholders would control the majority (64%) of an enlarged casino and leisure business, absorbing the assets of Enjoy.
The deal was viewed as outright transformative for Chile’s gambling market. Had it materialised, it would have created an enterprise which controlled “58% land-based gambling permits and 76% of the Chilean gambling’s total gross income in 2019”.
