Enjoy’s resignation of its licence for the casino in Viña del Mar could bring about an economic crisis, according to the mayor of Viña del Mar, Macarena Ripamonti.
“Today, we, the residents of Viña del Mar, are bearing the cost. There are no certainties about our city’s revenue starting from 2028, and that is profoundly unfair. As mayor, I have defended this community at all times, and I will not allow our resources and future to be jeopardized,” she said.
The vote had been postponed for but was finally held with three votes in favour, one abstention, and one vote against. The Viña del Mar municipality opposed the early termination and hoped for compliance with the original contract. Municipal lawmakers argue that the reduction in the operating period until 2028 will alter the municipality’s financial projections and increases budget uncertainty.
“The revenues from the Casino of Viña del Mar represent almost a quarter to a third of the municipal budget. Therefore, it is a direct threat to the finances of the commune,” Governor Rodrigo Mundaca said at the meeting.
The Resolutive Council of the Superintendence of Gaming Casinos (SCJ) authorized the resignation request for the operation permit presented by the Casino del Mar society (Viña del Mar) last week in accordance with the provisions of Supreme Decree No. 1722, of 2015, of the Ministry of Finance. The licence had been set to extend until 2036, and following this decision, the company will continue operating in the venue until 2028.
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.
Enjoy’s exit from the casino adds to other resignations the company has made as part of its reorganisation process. Earlier this month the Resolutive Council authorized the requests to relinquish operation permits submitted by the company for the casinos located in the communes of Coquimbo (Coquimbo Region) and Pucón (La Araucanía Region).
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Enjoy’s resignation of its licence for the casino in Viña del Mar could bring about an economic crisis, according to the mayor of Viña del Mar, Macarena Ripamonti. “Today, we, the residents of Viña del Mar, are bearing the cost. There are no certainties about our city’s revenue starting from 2028, and that is profoundly…
The post Mayor of Viña del Mar says Enjoy’s casino resignation could spark crisis appeared first on G3 Newswire.