Tag Archives: Panama

Codere reviews ‘corporate structure’ following damaging LatAm investigation

Bolsa Madrid gambling group Codere SA has sanctioned a review of its ‘operating structure’, following an independent investigation of auditing discrepancies found within its LatAm subsidiaries. This October, an embattled Codere governance was forced to declare to Spain’s CNMV markets authority that year-to-date accounts had ‘overstated earnings’ by €13-20 million attached to the firm’s LatAm business unit. Facing investor backlash, …

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Sportium declares its ‘Panama intent’ for 2020

Spanish bookmaker Sportium has confirmed that it will enter Panama’s sports betting marketplace in 2020, and plans to launch 20 new betting points across the nation. Accompanied by Panama’s most famous sporting son, boxing legend Roberto ‘Hands of Stone’ Duran, last week Sportium leadership held a conference in Panama City’s Majestic Casino – a property which will serve as one of …

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Panama’s new government calls for review of gambling taxation

Panama’s Gaming Control Board (JCJ) has confirmed that it will review its tax frameworks, seeking to revise taxation policies in order to make its gambling market more attractive to foreign investment. Central to JCJ’s revision will be an assessment on eliminating the enforced ‘5.5% tax on player winnings‘ applied across casino games, slot machines and sports wagering. The review of …

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Blackstone eyes ‘IPO on the horizon’ for CIRSA

A year following its €2 billion acquisition of Grupo CIRSA, US private equity fund Blackstone Group, is reported to be assessing ‘future options’ for the Spanish market gambling group. Spanish business news source Economia Digital, reports that Blackstone eyes an ‘IPO on the horizon’ for its CIRSA vehicle. Blackstone, which maintains one of gambling’s biggest investment portfolios, is reported to …

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Metric Gaming – Pricing up the World Cup

Copyright: donfiore / 123RF Stock Photo

Chris Taylor, Head of Football at Metric Gaming, looks at the challenges sportsbook traders face during major tournaments, such as the World Cup. The World Cup has delivered a run of surprise results to date; Argentina, Spain, Portugal and reigning champions Germany have all been eliminated. And perhaps the biggest shock of all – England beat Colombia in a 4-3 …

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Betway – Busy sporting week could see UK wager half a billion

Copyright: mkos83 / 123RF Stock Photo

Global online gambling firm Betway is predicting that as much as £500m is set to wagered across Britain in a betting bonanza of a week. Two England games in the space of six days at football’s biggest showpiece, the World Cup currently ongoing in Russia, bookends five days of betting at Royal Ascot, which could see UK punters wagering half …

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OPTIMA’s Javier Manceñido: Differentiation and flexibility to drive LatAm success

LatAm - Copyright: dikobrazik / 123RF Stock Photo

Companies looking to enter LatAm need to look well beyond the hype about size and potential. Successful penetration of this vibrant region will require patience, attention to detail and a tailored approach to doing business. Find out more from Javier Manceñido, Vice President of Sales at OPTIMA, including why LatAm represents such a challenge for its new market incumbents, and …

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Mexican growth leads Codere corporate recovery

Refinanced Spanish gambling firm Grupo Codere continues its strong corporate recovery, as the company reports KPI and metric growth for its Q3 2017 trading update (period ending 30 September). Primarily driven by growth in its Spanish and Mexican divisions, Codere would record Q3 2017 group operating profits of €401 million up 3% on corresponding 2016’s €390 million. Despite facing adverse currency …

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SBC’s On the Ball: The football business insight

From sponsorship to the ever-expanding world of football media coverage, when it comes to the business of football, SBC has got you covered. The first biweekly review tackles the continuing saga of overseas TV rights money, as well as looking at some of the winners and losers from World Cup Russia 2018 qualification. Sky Sports backlash over Amazon Man City deal …

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Sportium readies for Colombia market launch

Spanish licensed online sports betting operator Sportium (sportium.es) continues its South American expansion, announcing that it will enter the Colombian online betting market. The Ladbrokes and Grupo Cirsa Spanish joint-venture launch in Colombia follows a successful South American debut in Panama, where its services have gained a strong foothold. Speaking to Spanish media, Sportium CEO Alberto Eljarrat detailed that his …

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