odere was awarded a 15-year extension of their license to operate 90 gaming venues owned by its subsidiary Administradora Mexicana de Hipódromo (AMH) and Operadora Cantabria, until 2033. The company was also granted the land occupied by Hipódromo de las Américas for 25 years, up to 2048. The renewals come as a new boost to its business in Mexico, which accounted for 35% of Codere’s EBITDA during the last quarter.
Thanks to this agreement, which takes place as the company celebrates its 75th anniversary, Codere will continue operating Hipódromo de las Américas racetrack, which has a capacity of 8000 people and receives around 1400 competitors every year.
Hipódromo de las Américas, also known as Óvalo Sotelino, is the main racetrack within Mexico and Central America. It is part of the Federación Internacional de Autoridades Hípicas (IFHA), a renowned body which promotes the regulation and best practices of horseback riding.
Codere operates over 19.600 gaming terminals, 95 gaming halls, and 89 betting points in Mexico, where it also operates Hipódromo de las Américas (in Mexico City), representing 24% of the group’s total income.
CEO Vicente Di Loreto said: “We are a leading company in private gaming in Mexico and these accomplishments allow us to continue strengthening our position. We will carry on investing in this country, our most relevant market, so as to keep expanding and enhancing our gaming offer.”