Chile: Ready for the Submission of Bids for the New Puerto Varas Casino 

The presentation hearing will take place at SCJ headquarters, located at Morandé No. 360, 4th floor, Santiago, beginning at 10:30 a.m. Applicants must submit two envelopes in person: one containing the technical proposal and the other the financial offer.

The SCJ explained that the financial offers will be safeguarded at BancoEstado, while the technical proposals will be evaluated by a committee that will have 120 business days to score each submission according to current regulations.

Evaluation and Legal Requirements

In addition to meeting legal requirements and verifying the origin and sufficiency of funds, applicants will be assessed based on reports from the Ministry of the Interior, the National Tourism Service, regional governments, and municipalities. The overall quality of the project and its operating plan will also be considered.

The evaluation committee will be chaired by the Superintendent of Casinos.

Minimum Investment and Timeline

The minimum investment required to apply for the license is UF 61,234, which must be fully executed once the permit is awarded. The maximum deadline to build and open the casino is two years from the date of the license resolution, with the possibility of a single extension—up to 12 months for casino works and up to 18 months for other project facilities.

Employment Commitments

The project must offer jobs to at least 80% of the current workforce at Dreams Puerto Varas casino, provided they meet certain seniority and direct-hire conditions outlined in the technical requirements.

Financial Guarantees and Municipal Contributions

The financial offer must include a fixed annual amount, initially backed by a guarantee bond or cashier’s check equivalent to 2,300 UTM. Once the license is awarded, this must be replaced with a new guarantee covering three years of the financial offer, with a minimum of UF 5,000 annually.

Additionally, the construction of bus stops and pedestrian shelters in the city requires a separate investment of UF 5,000 to UF 5,500, independent of the guarantee amount.

Minimum Casino Requirements

The new casino must include:

A gaming hall with all five categories required by law: roulette, card games, dice, bingo, and slot machines.

Bar and restaurant services.

An operating license valid for 15 years.

Status of Enjoy’s Guarantee Policies

The SCJ reported that Casino de Puerto Varas S.A., whose license was revoked, had guaranteed its financial offer through insurance policies with AVLA, Cesce, and Orsan.

The AVLA policy has already been collected and transferred to the Treasury.

The Cesce policy is under administrative review to determine the exact amount.

The Orsan policy remains pending due to an ongoing arbitration process.