ES
IT
PT
DE
NL
Mexico’s Tax Administration Service (SAT) will auction seized shares in ICELA, the holding company that controls Administradora Mexicana de Hipódromo (AMHI), holder of the permit for the Hipódromo de las Américas and 65 gaming venues, as part of efforts to recover tax debts linked to Spanish gaming group Codere.
The sale, which opens on 11 August and closes on 18 August, concerns shares valued at MXN1.168 billion, according to local reports and SAT auction notices.
The package represents 97.6% of Codere’s 652.477 million ICELA shares, equivalent to approximately 82.6% of the company’s total capital. In practical terms, a successful bidder could gain effective control of ICELA and, through it, influence over AMHI and the operations linked to the Hipódromo de las Américas complex in Mexico City.
The auction is being conducted through the SAT’s tax enforcement process after the shares were seized in connection with outstanding tax liabilities. Local reports said the process is divided into one large block covering 50.8% of the shares owned by Codere, valued at MXN625 million, plus 93 smaller lots making up the remainder of the package. Minimum bids range from MXN6,667 to MXN10 million.
Although the auction has drawn attention because it involves one of Mexico’s best-known gambling assets, it is not a direct sale of the racetrack, gaming facilities or the operating permit itself. Any buyer would remain subject to Mexico’s corporate, tax and gaming regulations, and the SAT notices do not by themselves indicate an immediate change in operations.
Codere entered Mexico in 1998 and later increased its stake in ICELA to 84.8%, with the remaining equity held by Corporación Interamericana de Entretenimiento (CIE), which originally transferred control of the business to the Spanish operator.
The Hipódromo de las Américas remains one of Mexico City’s most recognised gambling assets.
The auction comes amid continued attention on Codere’s fiscal disputes in Mexico, where authorities have pursued collection efforts linked to unresolved tax obligations. It also comes as Mexico’s gambling sector faces increased scrutiny over regulatory compliance and tax collection.
