The 25 casinos generated CLP554.5bn ($588.2m) in 2024 – a 4.5% fall in comparison to 2023.
The total generated CLP196.8bn in tax for the state – 4% down on 2023 – comprising CLP85.1bn of gambling tax, CLP82.3bn of VAT and CLP29.5bn of tax related to entering gambling establishments.
Casino decree
The latest figures come after Chilean President Gabriel Boric last month authorized amendments to a decree concerning the management of municipal casino contracts.
According to the latest changes – which were initially proposed by Finance Minister Mario Marcel Cullell – operators will be allowed to terminate their licences for municipal casino contracts without facing financial penalties.
Cullell had previously said that managing multiple municipal casino contracts had become unfeasible due to financial issues endured by domestic gambling groups that are still recovering from the downturn caused by the Covid-19 pandemic.
Termination fees
The latest legislation also scraps a mandatory 120-day period that had been required for license termination requests to be reviewed by the Superintendency of Gambling Casinos.
“Once the resignation of contracts is accepted, the rapid start of a new bidding process for the granting of the respective operating permit will be enabled,” Cullell said.
However, termination fees may still be applied if the operator had made material changes to properties and venues.
In 2023, leading operators Lotería Concepción, Polla Chilena, and Teletrak legally challenged the proposals contained in a Federal Gambling Bill that was submitted to the Senate.
