Superintendencia de Casinos de Juego (SJC), the independent body focused on the regulation of Chile’s gambling industry, has opened the tender process for seven new casino concessions.
[dropcap]T[/dropcap]he cities where new concessions will be awarded are Arica, Iquique, Coquimbo, Viña del Mar, Pucón, Puerto Varas and Natales.
This process is the first one to be undertaken under Law No. 20,856, which came into force in August 2015. Bids will be assessed under a range of criteria, including the potential economic and tourism drivers for the respective municipalities in which the casinos will be located.
“This new legal framework enforces objectivity and transparency in the process of awarding concessions, which also guarantees the maximum revenues for the state, regions and municipalities,” explained SJC’s provisional superintendent for casinos, Daniel Garcia.
After receiving the technical offers, the SCJ will conduct a review of the technical background of the projects as well as verify if they comply with the special conditions set, and if the operator has sufficient funds to push through with the project.
A further review may be needed for some of the applicants, but once this is completed, the council will hold a hearing to open the financial offers of those who have passed the initial evaluation. Granting or refusal of permits will occur within five days from the date when the council opened the financial offer.
“It should be noted that the Superintendence has worked to design a tender process to award concessions under conditions that promote increased competition and reduce the entry barriers for new operators, thus maximising the number of bids that interested parties can make and the number of projects presented,” the SJC stated.