Gaming News

Chile casino operator promoting IPO

SANTIAGO, Chile -- As reported by The Wall Street Journal: "Chilean casino and hotel operator Enjoy S.A. launched a road show Wednesday to promote an initial public offering, for 30% of its equity, that will close July 7.

"The economic crisis has reduced the availability of international capital for investments. But depending on how Enjoy's IPO is received, it could start a wave of new IPOs later this year, analysts said.

"This will be the first IPO in Chile since Chilean soccer holding company Azul Azul SA (AZULAZUL.SN) netted $14.7 million in November 2008, but there have been few IPOs since 2006.

"...Enjoy will receive bids starting June 22 for about 460 million shares worth 30% of its equity, said Martin Engel, corporate finance manager at local brokerage firm Larrain Vial, which is managing the issue on behalf of Enjoy..."

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