Chile Casinos Experience 9.1% Revenue Boost in 2023

Chile's casino industry witnessed a remarkable surge in revenue in 2023, marking a 9.1% increase compared to the previous year. The total revenue soared to CLP$513.68 billion, attributed to a substantial rise in gross gaming revenue (GGR) across the country's 25 venues. The surge was supported by a notable uptick in casino visitors, reaching 7.1 million in 2023, marking a 12% increase from the previous year.

Despite the overall increase in revenue, the average expenditure per visit decreased by 12% compared to 2022, amounting to CLP$76,042. This shift in spending patterns underscores evolving consumer behavior within the Chilean gambling landscape.

Exciting legislative developments are on the horizon for Chile's gambling industry. In December, the chamber of deputies passed a bill aimed at regulating online gaming, signaling a potential shift towards a more comprehensive regulatory framework. This bill, if enacted, could establish a competitive online gaming market while prioritizing player safety and regulatory oversight.

A prevailing concern regarding the introduction of regulated online gaming is its potential cannibalization of land-based casinos. However, a recent study commissioned by the iDevelopment and Economic Association (iDEA) suggests otherwise. The study, conducted by Eilers and Krejcik Gaming (EKG), found that the introduction of online casinos had a positive impact on land-based casino revenue, debunking fears of cannibalization.

The findings of the study indicate that the implementation of online gaming may not only bolster revenue for traditional casinos but also contribute to a more vibrant and diversified gambling landscape in Chile. As the industry awaits further legislative developments, stakeholders remain optimistic about the potential for continued growth and innovation in the Chilean gambling market.