International edition
September 28, 2020

Which involves total assets of us$ 625 million

Codere merges its Mexican firms in just one company

(Mexico).- Spanish firm Codere, which has its largest operating center in the gaming and betting business in Mexico, together with Mexican rivals CIE and Caliente, decided to merger some of its companies in the country in just one firm, a movement that involves assets for more than us$ 625 million.

F

or Codere, Mexico is the biggest operating center. It has 19,575 slots in the country, almost 4,000 more than Spain, and operates 102 bingo halls. Argentina has 14 venues and 47 betting centers, and Spain has the second place with 16 bingo halls. Besides, it has shares in the complex that has the horse racetrack “Hipódromo de las Américas”.

Codere Mexico merged the companies Complejos Turísticos Huatulco, Números de México, Femalamex and Compañía de Inversiones Mexicanas.

Although all the companies belong to the Spanish firm, Codere informed that the shares of the companies merged will be changed by titles of Codere Mexico, which will be delivered to the company Hegelholf Associates, from the Netherlands, which operates as a comptroller for the Spanish company.

Codere Mexico had total assets for us$ 292,936,883 until last October 31st, while Complejos Turísticos Huatulco reported us$ 191,374,453, Compañía de Inversiones Mexicanas informed us$ 109,196,452, Femalamex totalled us$ 19,234,742 and Números de México us$ 2,095,614.

Although Mexico is the largest operating center of the company in terms of the number of centres, other countries have more incomes. In the first nine months of 2008, it reported 170.4 million euros, 22% of the 778.5 million euros that Codere announced to the market share. The Ebitda that Mexico brought was 52 million euros, an amount that represented the 29% of the global figure.

The Spanish firm arrived in Mexico in 1998 as bingo operator of Grupo Caliente and Compañía Interamericana de Entretenimiento (CIE). In 2006, it parchases the firm Promojuegos, a company linked to Santiago Creel Miranda, former head of SEGOB.

In 2007, it paid us$ 175 million and gave the 50% of its shares in the operation of Sport Books and Yaks to CIE. On Exchange, the Mexican gave the 49% of the shares to CIE Las Américas, the biggest firm dedicated to games, betting centers and convention centers in the country (Centro Banamex) and a horse racetrack.

In 2007, it acquired Mío Games in Mexico, as well as Recreativos Codere.

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