“Horse racetracks in Brazil to gain international stature”

Jockey Club do Paraná currently operates as a satellite of the main Brazilian horse racetracks. Thanks to this agreement with Codere Brasil, it will have its own system for the promotion of bets. “The system we will operate will be modern, proven and compatible with those that operate in the most important horse race markets worldwide. This is the heart of the project,” Gelfi said.

“There are four horse racetracks in the country. Codere, through an agreement signed with Jockey Club do Parana, will complement the schedule with around 80 daily races. We are also focusing heavily on web and cell phone channels.  Online gambling in Brazil is practically a virgin market. Not even Caixa Econômica Federal has entered it,” added Gelfi.

The General Director of Codere Brasil explained that the aim is to replicate in Brazil the successful experience of Codere in Spain. “Horse race-tracks in Brazil will gain international stature. Our idea is to do the same with other horse race-tracks in Brazil. We are working on this. The way forward is internationalization. There is no way to survive without having access to the big market of consumers of horse race betting, which is abroad; the local market has a lot of potential but there are very mature markets globally,” he concluded.

Nowadays, the sales volume in the horse-race market in Brazil is around us$ 193 million, while financial-economic estimations of Codere put the potential market at us$ 542 million - 181% more.