Tag Archives: Colombia

Codere SA has confirmed that creditors have agreed to reduce its corporate debt by 92% as part of a new financial restructuring programme. The terms of the new agreement will see Codere reduce its outstanding corporate debt from $1.7bn to approximately $140m, as of June 2024. The debt-reduction plan received majority approval from 60% of Codere creditors, who have been …

Colombia’s National Council of Games of Luck and Chance (Coljuegos) and the country’s National Superintendence of Health have entered into an agreement to further protect players from gambling harm.  The Memorandum of Understanding (MoU) between the government departments “strengthens the surveillance of the operation of the territorial games”. It will also set up an improved collaboration for the exchange of …

Codere SA has detailed a challenging start to year-end trading for its land-based gambling properties operating in Spain and South America. However, the heritage Spanish gambling group lauds the continued growth of its standalone Codere Online business. Q1 accounts for Codere showed declines across all financial metrics, as group revenues slumped by 14% to €313m (Q1 2023: €363m). Period trading …

The Senate of Colombia (upper house) has confirmed that tax measures on online gambling will be reviewed to support the government’s plans to overhaul the nation’s public welfare and healthcare systems.  Debates are scheduled to begin this week on Friday, February 16, led by Senator Antonio Correa of Partido de la Union. In 2016, Colombia modernised its Gambling Act (2001) …

Swedish betting operator Betsson has announced that it is now the main sponsor of Colombian football club Atletico Nacional. Strengthening the bookmaker’s footprint in Latin America, the new deal will see the company’s logo being placed on the front of the team’s men’s and women’s jerseys for the next three years.  Atletico Nacional was first established back in 1947, and …

Coljuegos, the Federal Gambling Authority of Colombia, has published plans for a ‘regulatory project’ to overhaul the rules on owning and operating electronic slot machines (ESMs). The regulator plans to initiate the project in 2024, a move deemed critical as Coljuegos seeks to terminate the ‘illegal economy’ of unauthorised ESMs operating across Colombia’s 32 federal territories. The project is accompanied …

Stake.com has announced its entry into the Colombian market through the acquisition of Betfair Colombia and its licence, which has been approved until 2025.  This marks a significant milestone in the online casino’s expansion strategy in Latin America and its commitment to delivering ‘top-tier entertainment’ to Colombian players. Brais Pena, Chief Strategy Officer at Easygo – the operating company of …

Colombia’s national gambling authority, Coljuegos, has proposed a resolution to adopt new advertising restrictions alongside changes to other licensing conditions. The potential reforms will need to be approved by Colombia’s Congress to be enacted, which if successful will see new requirements adopted by 1 January 2024. Regarding advertising, restrictions will follow a ‘tiered system’ whereby the more revenue an operator …

Coljuegos, the Federal Gambling Authority of Colombia, has warned that all licensed operators must comply with their tax duties.  This warning came after the publication of Colombian gambling’s accounts for the period of January-to-August 2023, overseen by Coljuegos. Year-to-date accounts showed a 16% increase in ‘tax transfers’ from licensed businesses to COL $564bn (€125m). Including tax takings, during 2023, Coljuegos …

Coljuegos, the Gambling Authority of Colombia, has sponsored a bill to better regulate gambling advertising and promote higher industry standards on marketing and communications.  The bill was submitted to the federal government on 29 September and sees Coljuegos aim to establish a series of new rules to “regulate the conditions under which authorised operators can promote advertising, sponsorship, marketing or …