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FNE extends to Phase 2 investigation regarding a casinos merger between Enjoy S.A. and Dreams S.A.

14 / 06 / 2022

The FNE decided to extend into Phase 2 the analysis of the operation consisting on the merger between Enjoy S.A. and Dreams S.A., the main undertakings in the casino industry in Chile, after concluding at the initial stage of its investigation that the transaction could substantially lessen competition.

The investigation began in May 3rd, 2022, so as to scrutinize the merger’s effects on competition in the markets related to the casino services, focusing in the transaction’s impact in both the bidding process for casino licenses, and in the competition among the different casinos operating in Chile, locally and nationally–.

After the analysis in Phase 1, the FNE concluded that the merger could preliminary raise horizontal antitrust concerns, both unilateral and coordinated, by granting the merged entity with the ability and incentives of reducing the quality of the casino services provided by the merging parties.

Due to above, and according to the provisions of Chilean competition law, the FNE decided to extend the analysis of the transaction into Phase 2, for up to a period of 90 business days, since the preliminary assessment concluded that the merger could substantially reduce competition.

Any third party that may have an interest in the transaction, including suppliers, distributors, competitors or consumers, may provide information to the investigation within 20 business days following the publication on this website of the resolution extending the investigation.