Dreams S.A., one of Latin America’s largest casino and entertainment operators, closed 2024 with strong financial results, despite facing significant macroeconomic challenges and inflationary pressures in several of its key markets. With a robust presence in Chile, Peru, Argentina, Colombia, and Panama, the company demonstrated remarkable resilience and continued its path of growth, reinforcing its leadership in the region’s gaming industry.
Key financial highlights: €47.7 million in free cash flow and an 8% reduction in net debt
Dreams generated €47.7 million in free cash flow during the 2024 fiscal year — a solid figure, slightly below the previous year, mainly due to lower tax refunds. Nevertheless, this underlines the company’s strong capacity for cash generation.
The adjusted EBITDA reached the third-highest level in the company's history, showcasing significant operational improvements driven by a strategy focused on efficiency, revenue diversification, and cost control.
Additionally, Dreams reduced its net financial debt by €11.6 million, an 8% decrease, strengthening its financial profile and comfortably complying with all current bond covenants.
Revenue breakdown: casinos remain the main driver, with positive growth in F&B
In Q4 2024, casino operations contributed 79% of consolidated revenue, reaffirming the core role of this segment within Dreams’ business model. Regionally, Chile accounted for 76% of total revenues, confirming its critical importance to the group’s overall performance.
Meanwhile, the food and beverage segment recorded a promising 4.3% year-over-year growth, contributing 12% of total revenue — a sign of the company’s ability to diversify its income streams and respond to evolving customer preferences.
On the downside, the hotel segment saw a 10.1% decline in revenue, largely due to lower occupancy rates in Mendoza, Argentina, amid difficult local economic conditions.
Inflation impact and accounting adjustments
In hyperinflation-hit Argentina, where annual inflation surpassed 200%, Dreams applied accounting adjustments, resulting in an additional €5 million in revenue and an adjusted EBITDA of €418,000. These adjustments illustrate the company’s adaptability to highly volatile environments.
Positive outlook for 2025
Dreams' management emphasized that, despite ongoing macroeconomic challenges, the company is well-positioned for the future. Its geographic diversification, strong cash flow generation, and sound financial structure point to promising growth opportunities, both organic and inorganic.
For 2025, Dreams plans to continue enhancing its comprehensive entertainment offering, invest in operational technology, and maintain a disciplined focus on operational efficiency to maximize shareholder value.
Furthermore, the company is exploring expansions into emerging markets across Latin America, where demand for high-quality gaming and entertainment experiences continues to rise.
With more than 3,800 direct employees and an extensive supplier network supporting indirect employment across its operating countries, Dreams not only remains a sector leader but also a vital contributor to regional economic and social development.
18+ | Juegoseguro.es – Jugarbien.es
