The rise in gross gaming revenue (GGR) in Chile’s 25 venues was boosted by a 12% increase in casino visitors in 2023, reaching 7.1 million people. The average expense per visit was CLP$76,042, showing a 12% decrease from the previous year. Despite fluctuations in performance throughout 2023, the overall GGR saw an uptick, with casino revenues in December only 4.7% lower than December 2022. The total tax contribution from casinos amounted to CLP$195.72bn, marking an 8.7% increase from the previous year.
Chile is potentially on the brink of regulating its online gaming market, as a bill passed by the chamber of deputies aims to introduce a competitive online gaming environment while prioritizing player safety and well-being. Pending approval from the senate, Chile could have a provisional online gaming system by November 2024. Challenges such as taxation and industry attractiveness need to be addressed to divert players from the illegal market to the regulated sector.
An EKG study has alleviated concerns about the impact of regulated online gaming on land-based casinos, showing that the introduction of online casinos actually has a positive effect on the revenue of traditional casinos. This finding contradicts previous beliefs of potential cannibalization, with survey participants overwhelmingly stating that online gaming has not negatively impacted land-based casino revenue.
