Spanish operator Codere has now opened its fifth casino in Columbia, the country’s biggest so far.
At a cost of US$15m, it covers a floor space of 5,000 sq. m. and boasts with 215 machines, 15 table games, an auditorium for 140 people, restaurant and a parking area for 40 cars.
Crown Casino opened in the so-called ‘Zona Rosa’ or Zone T of Bogotá is aiming to tap into the US$1,787m that Columbians spend each year on gambling. Nestling in alongside the many pubs, restaurants, malls, shops and discos of the Zona Rosa, it will be looking to attract the upper class leisure spend attracted to the area.
Felipe Navarro Director of Codere said: “In Colombia, the penetration of the game is not as high as in other markets, throughout Latin America. The market is still small but has many growth opportunities. We have developed a solid value proposition and have competitive advantages in our customer service. This opening is our most important is commitment to Columbia so far, with a world-class format and a very innovative concept.”
Mr. Navarro added that of the eight countries where Codere operates, Colombia represents only two per cent of the financial results.
Columbia has around 60,000 slots operating legally through about 300 operators, but according to estimates in the country the same number again could be operating illegally.
Last year the group’s presence in Colombia was strengthened through an investment of $9m on slot halls utilising the Crown brand. It earned GGR of $40.3m in 2011, representing an increase of 10.7 per cent compared to 2010. Codere expects its 2012 results to show growth of 16 per cent year-on-year. Codere also offers casinos located in the Gateway Shopping Center in Cali, and in Bogotá in the Mall San Rafael, as well as in Palatino and Unicentro.