Chile: Casino tax contribution authorized by Law No. 19,995 reaches $13,977 M in November 2023

The 25 gaming casinos operating in the country recorded gross gaming revenue (win) of $39,786 million in November 2023, which, in real terms, was 3.4% lower than those obtained in November 2022.

Taxes collected

The 22 casinos regulated by the Superintendency of Gaming Casinos (Law 19,995[1]) contributed a total of $13,977 million in taxes in November, a 2.7% decrease compared to November 2022 in real terms.

The aggregated amounts at the industry level are divided into $6,083 million corresponding to the specific gaming tax, destined to regional governments and municipalities for the financing of development works, in addition to $5,883 million associated with the payment of VAT on gaming income and $2,011 million corresponding to the tax on entry to gambling halls, which goes to the nation's general funds.

Regional governments and municipalities receive the funds from the specific gaming tax the month following their payment by the operating companies. Therefore, these resources will be received in February 2024.

On the other hand, the Monticello Casino, authorized in August 2022, paid the guaranteed annual economic offer to the municipality during November, which corresponds to the proportion of the amount offered corresponding to the year 2023 and through which the operating company was awarded the operating permit. .

The amount that the gaming casino contributed to the municipality as an economic offer corresponds to $215 million, equivalent to approximately 23% of its economic offer.

This payment is made to the General Treasury of the Republic, which, within the same period as the specific gaming tax, must transfer it to the respective municipality.

It should be taken into account that on November 11, 2023 in the commune of Antofagasta the operating permit of Operaciones El Escorial S.A. ended, and the casino had to close, which reopened on December 19 under the control of Dalmacia Gaming S.A., so , in November, only presented operations for 11 days.

The distribution of taxes collected by the operation for the month of November 2023 is shown in the following table:

Revenue and visits

The 25 gaming casinos operating in the country recorded gross gaming revenue (win) of $39,786 million in November 2023, which, in real terms, was 3.4% lower than those obtained in November 2022.

Regarding visits, 477,448 people were registered who entered the 25 casinos in operation, which is equivalent to a decrease of 10% compared to November 2022.

In addition, during November an average expense of $82,029 per visit was recorded, which implies an increase in real terms of 8% compared to November 2022.