Chile's casino win decline continues
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According to Superintendencia de Casinos de Juego (SCJ), the country’s 25 gaming casinos recorded gross gaming revenue of CLP47.8bn ($53.3m/€50.0m/£43.2m) discounting inflation in July 2023. This was 5.2% less than the amount generated in July 2022.
Casino win has been down year-on-year every month so far in 2023. In 2022, win of CLP538.0bn was 5.3% lower than that generated in 2019, prior to the Covid-19 pandemic.
Regarding visits, 635,751 people attended casinos, which is equivalent to an increase of 13% compared to July 2022. In addition, during July an average expense of CLP73,387 per visit was recorded, which implies a decrease in real terms of 16% compared to July 2022.
The 22 casinos that are required to pay federal taxes contributed a total of CLP17.1bn in taxes in July. This was down by 0.8% compared to July 2022 in real terms. Within this, CLP7.3bn will be collected for gaming tax, which will be diverted to regional governments and municipalities to finance development works. Some CLP7.1bn is associated with the payment of VAT on gaming income and $2.7bn corresponds to the tax on entry to gambling halls, which goes to the nation’s general funds.
By far Chile’s biggest casino based on tax liability is Monticello Casino in the commune of O’Higgins. Its CLP3.6bn was double the second biggest casino, Enjoy Viña del Mar in Valparaiso.
Regional governments and municipalities receive the funds from the specific gaming tax in October 2023.
