Mexico – Televisa looking to sell off its gaming divisionBy Phil - 13 August 2018
The Mexican business group Televisa is analysing the possible sale of its PlayCity Casino betting business as part of its divestiture of non-strategic asset as confirmed by the company.
PlayCity Casino is the business segment that operates under subsidiary Apuestas Internacionales, which also controls Sorteos del Trébol – its lottery and raffles brand.
According to Mexican newspaper Reforma, the Spanish group Codere could be one possible buyer. The value of the transaction stands at around US$300m, according to analysts. The estimated window for the sale would be within 90 days.
The company is carrying out an operation to sell its non-strategic assets and thus focus on its most profitable businesses. In June the company sold 19 per cent of its stake in the Spanish media group Imagina, in return for US$ 341m. The company, whose two co-chief executives took over in January, also sold its stakes in Editorial Atlantida, an Argentine publishing group, in February. The company is trying to adapt to the media market and increase advertising as it is struggling in the face of online streaming services. In February the company posted a quarterly net profit down 12.5 percent compared to the previous year.
Televisa is a leading media company in the Spanish-speaking world, an important cable operator in Mexico and a leading direct-to-home satellite pay television system. Televisa is also involved in magazine publishing and distribution, radio production and broadcasting, sports and entertainment, as well as film production and distribution, as well as gaming.
Televisa was given permission to open a total 65 bingo halls in 2005. The groups gaming division currently operates 7,200 electronic gaming machines as well as a sports betting website.
Sorteos del Trébol is dedicated to commercialising number games and instant raffles. As well as offering traditional raffles such as Superlotto, Sorteos del Trébol also encompasses sports pools games such as GanaGol and has over 5,300 points of sale in Mexico. In November 2016 the company announced that sportsbook solutions provider Kambi had signed an expanded agreement with Televisa for the launch of a multi-channel sports betting service for its PlayCity brand.