Protected in what is established by Law, the superintendent explained that "the law is clear and leaves no room for interpretation" so she assured that "I do not have the power to do what they are asking me because it is not provided for in the Law."
In the midst of its restructuring process, Enjoy requested the agency to use its "interpretative powers" on this matter, in the context of the damage that the sanitary measures caused by the COVID-19 pandemic have in its Financial Statements.
Given this, talking with El Mercurio newspaper, Villagrán reiterated that Enjoy "has all the alternatives established by the Law at the stage in which they are, when they have not yet entered into operations, can renounce the permit or, eventually, they could dissolve the operating company. Obviously, at the time that happens, the Superintendency collects the waranty papers.”
At the same time, within the framework of the judicial reorganization process carried out by the casino operator, the Eighth Civil Court of Santiago rejected the request of the holders of the national bond that sought to nullify the designation of Patricio Jamarme as seer of the cause.
On Friday last week, the hotels and casinos chain Enjoy reported that the board of the company agreed to start a "Judicial Reorganization Procedure" in light of the delicate financial situation it is undergoing after the social outbreak and expansion of COVID-19. The company reported that it was forced to indefinitely close the facilities in the three countries where it operates: Chile, Argentina and Uruguay.
On April 17, the casino operator linked to the Advent fund and the Martínez family, had asked the Superintendency of Gambling Casinos (SCJ) to terminate in advance the operating permits of the municipal casinos of Coquimbo, Viña del Mar, Pucón and Puerto Wands. Enjoy was awarded the operations in these four cities in 2018 and would come into effect between October this year and July 2021.
The company alluded to fortuitous or force majeure reasons that make it impossible for it to comply with the projects committed to in the tender. That’s why it proposed three alternatives.
First, if its request is accepted, the permits are relicensed. Second, an extension of the current gaming casino licenses, the deadlines to start project operations and the bidding processes that are about to begin for a period of five years. And third, that the superintendency authorize an additional extension of at least three years for the start of the operations of the four municipal casinos, a period that Enjoy considers to be the "minimum period" to recover.
Enjoy offered to the municipalities of the four communes fixed annual contributions that, as a whole, reachs about 53.4 million dollars, which the company must pay when the licenses come into force.
Source: GMB
