The Enjoy SA board has announced that Esteban Rigo-Righi will resign from his role as General Manager of the Chilean gambling company on December 31, 2024.
This decision was made public through a notification to the Chilean Financial Markets Commission (CMF) this week. It was also revealed that Enjoy’s board has appointed Carolina Gálvez Fuentes, who currently serves as the Head of Investor Relations, to take over as General Manager.
Rigo-Righi joined the company in 2010 and held significant roles, including Planning and Management Control Manager, CFO, and CEO. In 2024, he was promoted to General Manager and steered Enjoy through its judicial restructuring, a move required by creditors in Chile and later acknowledged by the U.S. Bankruptcy Court for the Southern District of New York in August 2024.
As part of the reorganization, Enjoy has restructured its business into new entities: NewCo-1 will oversee operations in Punta del Este, Uruguay, along with two real estate properties in Chile.
Creditors have also designated “NewCo-2” to manage casinos and hotels located in Rinconada, Antofagasta, Chiloé, Viña del Mar, Coquimbo, Pucón, and Puerto Varas. Other assets, including those in San Antonio and Los Angeles, will continue to be under Enjoy SA’s management.
In 2023, Enjoy withdrew from a merger with Dreams SA, which would have formed the largest casino group in South America. The FNE, Chile’s antitrust authority, rejected the merger due to concerns about the ownership of municipal casino contracts in Chile. This setback prompted Enjoy creditors to initiate a reorganization plan to divest certain assets.
Rigo-Righi’s resignation occurs amid legal issues for Enjoy. The National Economic Prosecutor’s Office (FNE) has accused Enjoy, Dreams, and Marina del Sol of collusion in the casino license bidding process. The FNE is pursuing substantial fines and the revocation of these licenses.
The promotion of Gálvez Fuentes indicates a stable transition and a new direction for Enjoy. She will be at the helm as the company aims to enhance its operations and tackle ongoing financial issues.
In broader industry developments, attention is on Chile for 2025, as the government attempts to establish a new regulatory framework for both land-based and online gambling. Although planned since 2023, no advancements were made in 2024 due to existing monopolies such as Loteria Concepción, Polla Chilena, and Teletrak inundating Chilean courts with legal challenges against the proposed changes.