Operator News

Mexico – Codere consolidates its position in Mexico as it renews licences

Codere has renewed the operating licenses of 90 gaming halls in Mexico, owned by its affiliate Administradora Mexicana de Hipódromo (AMH) and Operadora Cantabria for 15 years, until 2033, as well as the use of the land for the Hipódromo de las Américas racetrack for another 25 years, until 2048.

The news means that Codere will continue to be the market leader in Mexico. According to a company statement the licence renewal means “a new boost to the Company’s business in Mexico, the market for the Group’s main operation, which represented 35 per cent of its EBITDA in the third quarter of the year, demonstrating the strength of the legal security of its operation in the country and the institutional strength of its presence in this market at a time of change of government.”

Codere will continue to operate the Hipódromo de las Américas -the largest equestrian center in Mexico and Central America, which has a capacity for 8,000 people and which hosts around 1,400 competitions per year. The track is unique in Mexico and is one of the most prestigious racecourses internationally. It is also part of The International Federation of Horseracing Authorities (IFHA) the world peak body for the international sport of Thoroughbred racing.

Mexico is a key region for the company, where Codere operates more than 19,600 gaming terminals, 95 establishments and 89 betting points, in addition to the activity of the racecourse, which represents 24 percent of the Group’s total turnover. In addition to Mexico City and its metropolitan area, the firm is present in other locations throughout Mexico.

Vicente Di Loreto, CEO of the company said: “We are the leading company in the private gaming industry in Mexico and these achievements allow us to continue to consolidate this leadership position. We will continue to invest in this country, our most significant market, to continue to expand and improve our entertainment offering. ”