The Development of the Casino Industry in Chile

Abstract

This article provides an account of the development of the casino industry in Chile. For most of the 1930s up to the 1980s the industry remained stagnant and restricted to a few locations. From 1990 the industry grew, but in particular after 2005 following a new law that permitted the creation of new casinos in all regions, with the main aim of promoting tourism. The new casinos had to operate as part of an “integral project,” which included sizable investments in the tourism sector. This was a novel business development strategy. The new industry attracted old and new investors, including foreign operators, who often associated with Chilean business groups, providing the resources needed to finance these developments and enjoying healthy profits for most of the period.