Codere is one of the biggest operators in Argentina. Te company began its operations here in 1992 and is the largest operator of gaming rooms mostly operating in suburbs of Buenos Aires or Greater
Buenos Aires and in the tourist city of Mar del Plata and in the capital of the province La Plata.
Capital:
Buenos Aires Total Area: 2,780,
400sq.km Population: 46.6 million Median age: 33 years Ethnic groups: European and Mestizo. Religions: Roman Catholic, Evangelical, other Languages: Spanish (official) Currency: Argentine Pesos (A$) Government type: Presidential Republic Chief of State: President Javier Gerardo Milei (since Dec 2023) Head of Government: President Javier Gerardo Milei (since Dec 2023) Elections: President elected by majority vote serving a four year term (eligible for second consecutive term). Last election October 2023 and next due October 2027. Unemployment: 6.5% 2022 Tourism: 7.4m (2023)
Casinos are mostly located in hotels and run alongside tourism and there are approximately 550 slot halls and 90 landbased casinos in the country with around 90,000 slots in operation. In Buenos Aires city for example there is a floating casino, a horse racing track with 4,000 slots and 1,200 lottery ticket sales outlets. Bingo halls are mostly large-scale housing hundreds of slots. Codere is one of the biggest operators in Argentina. Te company began its operations here in 1992 and is the largest operator of gaming rooms mostly operating in suburbs of Buenos Aires or Greater Buenos Aires and in the tourist city of Mar del Plata and in the capital of the province La Plata. Te company operates a total of 13 bingo halls with 6,800
slots and 11,690 bingo seats. Codere Argentina revenue in 2022 amounted to €346.9m. Tere has been a huge growth surge in the market over the past few years in both landbased and online sectors mostly down to the liberalisation of the industry. Te Argentina gambling market is estimated to reach a value
of US$4.7bn by 2026 which is a growth of 5.4 per cent between 2020 and 2026. It was valued at US$3.36bn in 2019. For years the landscape for online gambling regulations was a little uncertain. Online gambling is regulated on a province-to- province basis and is restricted to players within those jurisdictions with no nationwide remote gambling offering. Offshore gambling is in theory prohibited and the jurisdictions
with regulation for online gaming have required operators to establish a local entity to apply for licences. Some provinces such as Buenos Aires and Cordoba are using a model of limited licensing involving partnerships whilst some other provinces have restricted their markets to incumbent lotteries or landbased casinos. Until 2018 it was limited but then two major districts, the province of Buenos Aires and the City of Buenos Aires, advanced regulation in terms of online gambling to include casino, poker and lottery games, and the sector began to boom. Te legal framework in each province was designed for land-
based gambling but later expanded to include online gambling. Te provinces which authorised online casino gambling also offer sports betting except Santa Fe where betting on football and other sports online is prohibited. Meanwhile not all jurisdictions have active operators. As licences are issued provincially Betsson for example can only be accessed for those in the city of BA and province of BA. In some jurisdictions there is only one active operator whilst others have several. Although tax revenues from online gambling could aid the
country, as Argentina struggles with high inflation, debt and economic situation, this could affect the interest from foreign operators and companies. Te absence of state legislation could also make it difficult as it forces operators to apply in the jurisdiction meaning it is more expensive and less appealing.
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