Euroamerica SA revealed as biggest Enjoy shareholder in new structure

Image source: Shutterstock

Chilean gaming company Enjoy has published its balance sheet as of June 20, in which it revealed a new shareholder structure. The document positions Euroamerica SA as the current biggest shareholder and the founding family as one of the smallest.

The company, which now features Henry Comber as its President, had not appeared in the financial structure at the end of 2020, although it now has the biggest share percentage of Enjoy with a 23.3%, as reported by news source La Tercera.

At the end of June 2021, Euroamerica was followed by Banchile Corredores de Bolsa SA (8.74%), Larrain Vial SA Corredora de Bolsa (5.74%), Santander Corredores de Bolsa Limitada (5.13), and Tanner C of BSA (5.11%). The remaining 51.98% is distributed among other shareholders, as per Enjoy’s report.

The biggest change concerns the ownership of the Martínez family, founder of the company, which went from 26.12% shareholding in December 2020 to 3.58% at the end of June 2021.

Additionally, in regards to its reorganization process, Enjoy clarified that “as of the date that financial statements were presented, bonds have been converted into shares for 179bn Chilean pesos, representing 80% of the total potential of the debt to be converted into shares”.

Shareholders will have time to convert their debts into shares until February 24, 2022.

The company also announced this week that it has rejoined the Chilean Association of Gaming Casinos (ACCJ), four years after its decision to step down, given the need to present a united front against the bidding process established by the local gambling regulator (SCJ).

The decision arises from the bidding process for the 12 casinos whose licenses will expire between 2023 and 2024. The operators that currently have permits have invested over 1.4bn pesos based on the fact that the SCJ had promised, 15 years ago, that they would have priority to extend their licenses for another 15 years.

However, the process that started on May 24 doesn’t include any benefits for the operators, who have already taken the legal path against the SCJ for failing to comply with the agreed terms.