Tag Archives: Panama

SIS adds multinational race day to sponsorship portfolio

SBC News SIS adds multinational race day to sponsorship portfolio

SIS (Sports Information Services) is the new sponsor of the $100,000 Copa Confraternidad del Caribe on the Clásico Internacional del Caribe race day. The annual Caribbean nations thoroughbred championship day, held on 10 December at the Hipódromo Presidente Remón in Panama, attracts leading horses from Panama, Venezuela, Mexico, Puerto Rico, Colombia, Ecuador and the Dominican Republic. The competition also carries …

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Codere reviews ‘corporate structure’ following damaging LatAm investigation

SBC News Codere reviews 'corporate structure' following damaging LatAm investigation

Bolsa Madrid gambling group Codere SA has sanctioned a review of its ‘operating structure’, following an independent investigation of auditing discrepancies found within its LatAm subsidiaries. This October, an embattled Codere governance was forced to declare to Spain’s CNMV markets authority that year-to-date accounts had ‘overstated earnings’ by €13-20 million attached to the firm’s LatAm business unit. Facing investor backlash, …

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Sportium declares its ‘Panama intent’ for 2020

SBC News Sportium declares its 'Panama intent' for 2020

Spanish bookmaker Sportium has confirmed that it will enter Panama’s sports betting marketplace in 2020, and plans to launch 20 new betting points across the nation. Accompanied by Panama’s most famous sporting son, boxing legend Roberto ‘Hands of Stone’ Duran, last week Sportium leadership held a conference in Panama City’s Majestic Casino – a property which will serve as one of …

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Panama’s new government calls for review of gambling taxation

SBC News Panama's new government calls for review of gambling taxation

Panama’s Gaming Control Board (JCJ) has confirmed that it will review its tax frameworks, seeking to revise taxation policies in order to make its gambling market more attractive to foreign investment. Central to JCJ’s revision will be an assessment on eliminating the enforced ‘5.5% tax on player winnings‘ applied across casino games, slot machines and sports wagering. The review of …

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Blackstone eyes ‘IPO on the horizon’ for CIRSA

SBC News 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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Metric Gaming – Pricing up the World Cup

Copyright: donfiore / 123RF Stock Photo

Chris Taylor, Head of Football at Metric Gaming, looks at the challenges sportsbook traders face during major tournaments, such as the World Cup. The World Cup has delivered a run of surprise results to date; Argentina, Spain, Portugal and reigning champions Germany have all been eliminated. And perhaps the biggest shock of all – England beat Colombia in a 4-3 …

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OPTIMA’s Javier Manceñido: Differentiation and flexibility to drive LatAm success

LatAm - Copyright: dikobrazik / 123RF Stock Photo

Companies looking to enter LatAm need to look well beyond the hype about size and potential. Successful penetration of this vibrant region will require patience, attention to detail and a tailored approach to doing business. Find out more from Javier Manceñido, Vice President of Sales at OPTIMA, including why LatAm represents such a challenge for its new market incumbents, and …

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Mexican growth leads Codere corporate recovery

SBC News Mexican growth leads Codere corporate recovery

Refinanced Spanish gambling firm Grupo Codere continues its strong corporate recovery, as the company reports KPI and metric growth for its Q3 2017 trading update (period ending 30 September). Primarily driven by growth in its Spanish and Mexican divisions, Codere would record Q3 2017 group operating profits of €401 million up 3% on corresponding 2016’s €390 million. Despite facing adverse currency …

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