Enjoy SA Ends the Year’s First Quarter With Growth

Enjoy SA Ends the Year’s First Quarter With Growth

May 29, 2018
Staff Writer
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The numbers released by Latin American gaming and resort company Enjoy show the firm generated revenue of $142 million during the first three months of the year.

This number represents an increase of 3.6% when compared to the respective period of 2017.

Enjoy Punta del Este, Enjoy Coquimbo and Enjoy Santiago was the main driving force behind such a result.

Gaming Segment on the Rise

Enjoy pointed out the gaming segment of its business had recorded a jump of 4.4% during the three-month period ending on March 31, 2018, while the non-gaming segment related to hotels, restaurants and other services had risen by 0.7%.

EBITDA for the same period reached the number of $36.5 million, which represents an increase of 2.1%. A higher adjusted EBITDA for Enjoy operations Punta del Este and Enjoy Pucón was responsible for such an outcome at the end of the quarter.

When it comes to Uruguay, revenues in the gaming sector rose by 6.4% (in Chilean pesos) on a year-on-year basis. In Chile, consolidated revenue also rose by 2.2% when compared to the corresponding period of 2017, mainly because of the operations in Enjoy Santiago, Enjoy Coquimbo.

Improved performance from Enjoy Rinconada, Enjoy Coquimbo and Enjoy Viña del Mar contributed to a 3.5% increase in the gaming segment. Activities in VIP rooms rose by 27%, particularly in Enjoy Santiago, while the net win in Chile increased by 3.5%.

More Investments This Year

Last month, Enjoy opened the VIP Seven Stars category in Chile and Argentina, with more than 120 people have joined so far.

The company plans to update 464 gaming machines during this year, which is an investment worth $8.9 million. During the year’s first quarter 174 new machines have been installed, with Enjoy investing substantial funds in management, analysis tools, and optimization of income slot machines.

Total net income reached a little over $150,000 – which is quite a drop when compared to $6.9 million from the same period of last year. The biggest culprit for such a result was partial prepayment costs of the international bond and total prepayment of its domestic bond.

Enjoy owns 10 casinos and 10 hotels in Chile, Uruguay, Argentina, and Colombia, with a combined total of 6,824 slot machines, 367 gaming tables, 1,362 hotel rooms and 30 restaurants.

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