Tag Archives: mexico

Codere secures Hard Rock Mexican market joint-venture

Spanish business news sources report that Bolsa Madrid gambling group Codere SA has signed a joint-venture agreement with Hard Rock International, which will see both companies develop new gaming properties within Mexico. The joint-venture will begin with Codere and Hard Rock establishing a new ‘tourist complex’ valued at $1 billion, which will see the US leisure and entertainment group develop …

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Martinez Sampedro family seeks highest fee for Codere exit

The boardroom dispute impacting the future of Bolsa Madrid gambling group Codere SA has intensified as the enterprise founding  Martinez Sampedro family places a Spanish Capital Markets Commission (CNMV) claim against US investor Silver Point Capital. The two-year dispute takes a further turn, on a matter which an embattled Codere governance outlined would be resolved at the firm’s ‘critical AGM’ scheduled …

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bet365 launches MX property in partnership with TV Azteca

bet365 has launched its Mexican market domain – bet365.mx – in partnership with ‘Ganador Azteca’, the gambling subsidiary of Mexican national broadcaster TV Azteca. The UK’s leading online bookmaker undertakes its Mexican market launch having secured a ‘partnership licence’ granted by Mexican Ministry of the Interior department ‘Dirección General de Juegos y Sorteos -DGJS’. The announcement sees bet365 partner with Mexico’s …

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Martin Clarke, Metric Gaming: Leading the counter trend to scale-driven cookie-cutter solutions

Metric

Metric Gaming Head of Product Martin Clarke discusses the current issues surrounding innovation and how the industry’s existing technology may be a roadblock to creativity, especially for dynamic live betting markets. SBC: The gambling industry has often been criticised for being too homogeneous, with the only competition on the amount of money given to players via bonuses. Why is there …

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Codere ups racing muscle with SIS content partnership

Bolsa Madrid operator Grupo Codere SA has moved to enhance its live racing content across its Spanish and Mexican digital properties, integrating Sports Information Services SIS new 24/7 Live Betting Channel. SIS informs that its new live pictures partnership will see Codere ESP and MX digital domains gain horseracing and greyhound content throughout the day. Peter Lucas, Sportsbook Trading Director …

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Codere sanctions Credit Suisse to lead its Mexican charge

Spanish business news source El Confidencial reports that the governance of Grupo Codere SA has sanctioned investment bank Credit Suisse to lead its corporate refinancing, as the Bolsa Madrid gambling group reviews its South American options. The Swiss multinational bank is reported to have been given a two-fold mandate by Codere governance, being ordered to raise capital for new expansion …

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Blackstone eyes ‘IPO on the horizon’ for CIRSA

A year following its €2 billion acquisition of Grupo CIRSA, US private equity fund Blackstone Group, is reported to be assessing ‘future options’ for the Spanish market gambling group. Spanish business news source Economia Digital, reports that Blackstone eyes an ‘IPO on the horizon’ for its CIRSA vehicle. Blackstone, which maintains one of gambling’s biggest investment portfolios, is reported to …

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Mexican Tribunal denies Codere expansion rights

A Mexican federal court has denied Grupo Codere the right to open a further 45 casino/betting establishments, hindering the Bolsa Madrid gambling group’s LATAM expansion plans. Last week, Mexican news sources revealed that on 15 April a Mexican Tribunal on administrative matters had revoked ‘Recreativos Codere’ its previous exemption from Ministry of Interior rules on licensing gambling properties. The tribunal’s …

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Morena Mexico propositions returning gambling back to the government

Ministers of Mexico’s ‘Movimiento Regeneración Nacional (Morena)’ social democratic party have pushed forward a proposition mandate, seeking to revamp Mexican gambling laws. Morena forms part of Mexico’s social reform coalition government, sharing its legislative agenda with the PT Labour Party. Issuing a public communique, Morena has propositioned that Mexican gambling laws be withdrawn from state assemblies, with full regulatory authority transferred …

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Codere backs business plan despite 2018 dramas

Embattled Bolsa Madrid gambling firm Grupo Codere SA closes its full-year 2018 accounts reporting group-wide losses of €40 million, primarily attributed to significant Argentine market adjustments. Reported throughout 2018, Codere has been forced to navigate the +100% collapse of the Argentine Peso against the Euro, with the gambling group detailing FX losses of circa €34 million. In its Argentina market …

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