Private equity investor Advent announced plans to invest up to $118 million in Enjoy casinos in Chile with Coquimbo, Viña del Mar, Pucón and Puerto Varas all scheduled for renovations in the next two to three years.
Advent purchased 32 percent of Enjoy in 2018.
The company said the investment will strengthen Enjoy’s capital structure, allowing for lower financial expenses, and enhanced investment capacity, including the renewal of its municipal licenses.
In Viña del Mar, a $31.8 million investment includes the replacement of more than 500 slot machines and improvements to VIP lounges, restaurants and bars and the casino. Combined this will cost around US$31.8 million.
In Coquimbo, the company will invest $29.4 million to renovate slot machines, remodel the exterior and interior of the casino and build a new event center.
In Pucón, the planned $3 million and includes a new casino that will be integrated into the current hotel, which will be upgraded from a 3-star to 4-star hotel.
In Puerto Varas the investment will stand at $24.5 million and will cover the building of a new casino next to the hotel that Enjoy currently operates in the city, which will also be remodeled, and new machines will also be purchased.
