The Resolutive Council of the Superintendence of Gaming Casinos (SCJ) has authorized the resignation request for the operation permit presented by the Casino del Mar society (Viña del Mar), in accordance with the provisions of Supreme Decree No. 1722, of 2015, of the Ministry of Finance.
The Undersecretary of Finance Heidi Berner, the Undersecretary of Tourism, Verónica Pardo and the president of the Financial Market Commission, Solange Berstein, voted in favour of the request. The governor of the Valparaíso Region, Rodrigo Mundaca, voted against, and the Undersecretary of Regional Development, Francisca Perales, abstained.
Article 46 bis of the 2015 decree provides for the exceptional resignation modality three years after its approval, during which time each gaming casino that has opted for it must continue operating with all corresponding economic, legal, and regulatory obligations.
These obligations include the payment of the economic offer to the relevant municipality, the payment of VAT and the entrance fee tax, which go to the general funds of the Nation as well as the specific gaming tax, which benefits the municipality and the regional government. All of the obligations must be upheld along with the necessary guarantees to ensure the payment of the economic offer.
Based on the gross revenues generated by the gaming casino in Viña del Mar in 2024, it is estimated that the fiscal and economic impact resulting from the decision made by the Resolutive Council will allow for a revenue exceeding $65.459 billion over the next three years. Of that total, $29.167 billion would correspond to the specific gaming tax, $27.709 billion to VAT, and $8.582 billion to entrance tax.
Additionally, during this period the Municipality of Viña del Mar will continue to receive the guaranteed annual economic offer, which corresponds to 831,123 UF. The “UF,” or “Unidad de Fomento,” is a Chilean inflation-indexed currency unit used to adjust for inflation in financial transactions.
According to the SJC press release this early resignation option, established by Decree No. 803 and approved by the Comptroller General of the Republic, allows the casino to keep operating. This decision helps preserve the jobs of the 589 people employed at the casino and supports the related businesses that rely on the activity. It also aligns with regional development goals and highlights the casino’s role as a key attraction for tourism in the area.
Following this authorization, a new bidding process for the commune of Viña del Mar will need to begin. For these purposes, the Resolutive Council, will determine the special conditions for granting the operation permit, which will include, among other aspects, a minimum guaranteed economic offer, the construction or expansion of the commune’s tourism infrastructure, and the percentage of individuals working in the gaming casino who will continue to provide services. The proposal submitted by the SJC must be made after a hearing with the municipality.
Once the applicant projects are presented, the SJC must conduct a technical evaluation in which both the regional government and the municipality actively participate. The regional government must pronounce itself regarding the commune proposed by the applicant and the impact on regional development; and the municipality must assess the impact and logistical feasibility of executing the project in the commune.
According to Article 46 bis, neither the resigning operating company nor its corporate group will be able to reapply for the slot from which they resign.
Regulations have been amended to permit casinos to request the termination of their licenses without the requirement to pay guarantee bonds. However these regulations include an exceptional waiver that takes effect three years after its approval. During this time, each casino that chooses to take advantage of this option must continue operating while fulfilling all its economic, legal, and regulatory obligations.
Earlier this month the Resolutive Council authorized the requests to relinquish operation permits submitted by the company Enjoy for the casinos located in the communes of Coquimbo (Coquimbo Region) and Pucón (La Araucanía Region).
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The Resolutive Council of the Superintendence of Gaming Casinos (SCJ) has authorized the resignation request for the operation permit presented by the Casino del Mar society (Viña del Mar), in accordance with the provisions of Supreme Decree No. 1722, of 2015, of the Ministry of Finance. The Undersecretary of Finance Heidi Berner, the Undersecretary of…
The post SJC authorizes resignation of casino license in Viña del Mar appeared first on G3 Newswire.