A Mexican tribunal denies Codere's opening of 45 casinos

A Mexican federal tribunal has denied the Codere Group the right to open 45 casino establishments in LatAm. According to Mexican news outlets, a tribunal on administrative matters revoked Recreativos Codere’s previous exemption from Ministry of Interior rules on licensing gambling properties.

The tribunal’s ruling dates back to 2007, when Codere was granted its first concessions to expand in Mexico. Nevertheless, in 2012 federal changes to Mexican gambling laws would institute that permits could only be granted to ‘single gambling establishments’, which under no circumstances can operate multiple gambling premises ‘under one authorization’.

Codere appealed the gambling reforms, arguing that Mexican authorities should simply grant the company permits as requested. But in its judgement, the tribunal emphasized that the company had already been granted a number of favorable rulings during an 11-year period, helping the operator expand its Mexican presence.

At present, Codere operates 95 gambling/betting properties across Mexico, with the group recently renewing its racing concession with the Hipódromo de las Américas for a further 15-years. The firm has operated in the Mexican market since 2004, and services a full inventory of products, including bingo, gaming halls, casino and sportsbook properties.

Recently, the company opened two gaming halls in the country, bringing together about 20,000 terminals. Entering 2019, Codere governance would underline growth in the Mexican gambling market as a key corporate directive in the firms ‘2021 transformation programme’– with the company actively seeking new Mexican licenses.