operating sports betting establishments alongside its already existing gaming rooms as well as gaming rooms belonging to its partners via third party agreements.
According to a statement released by the company in November 2017, Codere Apuestas will initially start operations via 155 betting points through its own network of gaming rooms, as well as those operated by its partners and via third party agreements. 245 state-of-the-art self-service betting terminals will be available to customers. Te company forecast that through the year that its sports betting offer will encompass 264 branches and that it would install around 385 sports betting terminals. Simultaneously, the company's objective will be to exploit other channels authorised by Coljuegos such as bars, restaurants and hotels.
Mexico has permitted sports betting since 2005 due to an amendment to Mexico’s 1947
gaming laws which allowed the Secretary of State (SEGOB) to grant gaming licences at his or her own will. Since then sports betting has spread quickly and sports betting shops are often part of much larger gaming establishments. Te leading operator in Mexico is Codere. In December Codere renewed the operating licenses of its gaming halls in Mexico, owned by its affiliate Administradora Mexicana de Hipódromo (AMH) and Operadora Cantabria for 15 years, until 2033, as well as the use of the land for the Hipódromo de las Américas racetrack for another 25 years, until 2048. Codere operates more than 19,600 gaming terminals, 95 establishments and 89 betting points, in addition to the activity of the racecourse, which represents 24 percent of the group's total turnover.
Sports betting is also increasingly visible via sponsorship deals in Mexico. Around, 13 of the 18 teams that make up the top flight of Mexican football are now sponsored by betting companies.
Most recently Mexican casino group Corporación Caliente inked a deal with top flight football team Club Deportivo Guadalajara. As well as operating one of the most popular online gambling sites in Mexico Caliente also offers sports betting in all of its many casinos nationwide.
Meanwhile sports betting continues to be popular in countries such as Panama and the Dominican Republic where sports betting has been permitted for many years. In Panama sports betting revenue is down following the overall downward trend in the sector. Te industry is still struggling to recover from a 5.5 per cent tax which now applies to all cash withdrawals made in casinos, slot parlours, bingo halls and sports betting shops and tracks. Overall, during the first 11 months of 2018 the board registered a decrease of 12.3 per cent in government revenue from sports betting and gambling year on year.
In the Dominican Republic the
sports betting continues to be popular in countries such as Panama and the Dominican Republic where sports betting has been permitted for many years. In Panama sports betting revenue is down following the overall downward trend in the sector. The industry is still struggling to recover from a 5.5 per cent tax which now applies to all cash withdrawals made in casinos, slot parlours, bingo halls and sports betting shops and tracks. Overall, during the first 11 months of 2018 the board registered a decrease of 12.3 per cent in government revenue from sports betting and gambling year on year.
NEWSWIRE / INTERACTIVE / MARKET DATA P135
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