SBC News Voice of the Sports Betting Industry
Spanish listed gambling operator Grupo Codere continues its international expansion, informing the market that it has moved to acquire all shares in Mexican joint venture Grupo Caliente MX.
Updating investors, Codere governance details that it will purchase all Caliente assets outright, by acquiring the remaining 32.7% of company shares for a reported $26 million ($22 million in cash).
The Spanish operator had been the majority backer of the Caliente enterprise through its Mexican subsidiary Codere MX. Caliente’s Mexican gambling portfolio consists of land-based casino properties, arcades, in-stadia betting parlors and an online betting portal powered by Digital Sports Tech. As yet, it is unknown whether Codere will look to rebrand its acquired assets under the Codere.Mx banner.
At present, Grupo Caliente services a reported 70 betting points within the provinces of Mexico City, Veracruz, Monterey and Cuernavaca.
A debt restructured Codere has targeted growth in the markets of Mexico and Italy as key to the firm’s recovery. This January Codere governance announced a 51% investment in Italian gambling machine operator Nori Games, who operate 400 machines in the region of Lombardia.
Stating its Mexican market intent, Codere launched its online property Codere.mx this February leveraging its sponsorship of Spanish football giants Real Madrid.
