It is expected that this third approach made by the hotel company and communicated to the Chilean Stock Exchange will be approved or rejected next Friday, July 26 at the creditors' meeting.
The Enjoy company, which in Uruguay operates a private hotel and casino in Punta del Este, presented on Friday a new proposal for a judicial reorganization agreement, which replaces the one that was formulated and reported on June 26.
This time, the casino operator notified the market through an essential fact that this new plan that is proposed to the creditors has greater detail and regulation of certain aspects than the one previously presented, which - according to the document signed by the manager Enjoy's general manager, Asín Rigo-Righi, "allows the Company to continue generating value, allowing its creditors to recover their debts and maintain the operational continuity of Enjoy and its subsidiaries."
In turn, the communication made to the Santiago Stock Exchange states that "in this way, the Company will be able to fulfill its commitments to workers, suppliers, clients, shareholders and communities in which it is present.
"All this, through different mechanisms, including the postponement and/or restructuring of debts, the sale of assets and the obtaining of fresh resources for operational continuity, in the terms described in the aforementioned plan."
This is the third time that the casino operator has changed the proposal to creditors, and it is expected to be approved or rejected - like the previous proposal - next Friday at the creditors' meeting.
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The Enjoy group has a casino license in Uruguay through the Baluma company that extends until 2036, according to the authorization granted by the Ministry of Economy and Finance in April 2013. In addition, it operates eight other gaming casinos in Chile.
In March the company had informed the market that it was analyzing “demonstrations of interest” and offers for its gaming casino operations, hotels and real estate assets, both in Punta del Este and Chile.
