The millionaire income of the casino industry in Chile

According to the latest monthly report published by the Casino Superintendence, the total gross casino income, Sun Monticello had a 19,7%, Casino Viña del Mar 11,9%, Marina del Sol Talcahuano 8%, Casino Rinconada 7,5%, Coquimbo 5,5%, Enjoy Antofagasta 5,1%, Dreams Temuco 4,7%, Casino de Iquique 4,3%, Dreams Punta Arenas 4,2%, among the main places.

The total which was gambled in August, on the 10,719 slots operating on the 19 casinos regulated reached U$S 400,702 million. Besides, the jackpots paid to players reached U$S 375,651 million, equivalent to 93,7%. On the other hand, the win related to games of chance was U$S 25,051 million, equivalent to 84% of the total gross income.

The 14 regional governments and 19 local councils received the funds from specific tax gaming, the subsequent month of the payment by operating societies. It means that the resources will be received by local governments in November 2019.

With regard to the return of Chilean casinos, the Casino Superintendent Vivién Villagrán was emphatic about current policies.

“On the regulated industry of the casino law it forces operators to return to the 85% of which is played in the machines. That 85% is calculated on the base of 10 million plays. It is an industry which, on top of VAT, has two specific taxes: one has to do with the income, but they also have a tax to gaming win, which is basically which machines win and generate, around a 20%. Therefore, this industry taxes around 39%, with a return which, in real data, is over 90%," he pointed.

Casinos authorized by the law N° 19.995, added a total of US$ 15.264.734 in taxes, of which US$ 6.708.132 is allocated to specific gaming tax for Regional and Local Govenments, where they operate to finance development works.
We have to add to this tribute a sum of US$ 6.585.085, associated to the VAT payment and  US$ 246.923 corresponding to income tax on casinos, allocated to general funds of CHile.

On those terms, the 520,361 visits registrated mean a 11.2% compared to August 2018 and an accumulated growth of 0,7% in the last 12 months. Visitors spent in August an average of U$S 79,34 per visit, which means a real variation of -10% compared to August 2018.