In July 2019 López Obrador confirmed that two of Mexico’s lotteries would merge
creating one of the largest lotteries in the region. In October 2019 Te Plenary of the Chamber of Deputies approved the repeal of Mexico's Lottery Laws to merge La
Lotería Nacional para la Asistencia Pública (LOTENAL) with the other state lottery Pronósticos para la Asistencia Pública (Pronósticos). Lottery tickets went on sale again on June 29, 2020 after a break of three and a half months.
merge La Lotería Nacional para la Asistencia Pública (LOTENAL) with the other state lottery, Pronósticos para la Asistencia Pública (Pronósticos).
Te Senate later approved the merger and in March 2020 the director of the National Lottery, Ernesto Prieto, indicated that both were now joined adding that the institution “had got out of the economic doldrums that it had been in for more than 10 years.”
Lottery tickets went on sale again on June 29 after a break of three and a half months, as did the lottery for the luxurious Presidential aeroplane.
In February, López Obrador presented a new lottery ticket offering the Presidential plane as a prize. López Obrador insisted on raffling the plane in case the government was unable to find a buyer. Te plane was held up as an example of corruption. Te President has described the aircraft as “a palace of the heavens” and said
that it was an offense to the people of Mexico.
Ultimately, López Obrador decided that the raffle would be a ‘symbolic’ cash prize divided among 100 winners. Te final were sold through to September 15. Each winner will receive 20 million pesos, the equivalent of about $1m.
MAJOR OPERATORS IN MEXICO
Codere SA Codere operates in Mexico in association with two groups that are leaders in the domestic market: Grupo Caliente and Compañía Interamericana de Entretenimiento (CIE). Codere SA continues to be a market leader in Mexico and plans to continue to expand as its growth in other markets, such as Argentina, declines.
In 2016, Codere launched its online gaming platform under the Codere Apuestas brand. In December 2019, Codere renewed the operating licences 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, has around 95 establishments and 90 betting points, in addition to activity at the racecourse.
Codere is currently developing a $1bn Mexico City casino resort project with US entertainment group Hard Rock International. In August 2019, Codere signed an agreement with Hard Rock to grant it a parcel of land in Mexico to build a tourist complex valued at close to US$1bn. Codere secured rights to become the minority partner. In March 2020, Codere SA informed investors that it has secured a further €20m loan that will support its Mexican business unit. Codere said the loan was approved to safeguard stability for its Mexican properties, resolving COVID-19 sports and business disruption caused by the pandemic.
NEWSWIRE / INTERACTIVE / MARKET DATA P119
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