{"id":2703,"date":"2023-10-19T00:00:00","date_gmt":"2023-10-19T00:00:00","guid":{"rendered":"https:\/\/www.mundovideo.com.co\/en\/colombian-gambling-news\/codere-is-losing-the-bet-in-mexico\/"},"modified":"2023-10-19T00:00:00","modified_gmt":"2023-10-19T00:00:00","slug":"codere-is-losing-the-bet-in-mexico","status":"publish","type":"gambling","link":"https:\/\/www.mundovideo.com.co\/en\/colombian-gambling-news\/codere-is-losing-the-bet-in-mexico\/","title":{"rendered":"Codere is losing the bet in Mexico."},"content":{"rendered":"<p><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">The Reform Project to the Regulations of the Law on Games and Sweepstakes sent by the Ministry of the Interior, headed by Luisa Mar&iacute;a Alcalde, could not have come at a worse time for Codere.<\/span><\/span><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\"> <\/span><\/span><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">And just when the 4T government is preparing to eliminate slot machines in all establishments, the Spanish firm chaired by Gonzaga Higuero dyes its numbers red.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family:Arial,serif\"><span style=\"font-size:x-large\">At the end of the first semester, Codere tripled its global losses compared to 2022, due to the closure of more than 10 gaming rooms, both in Mexico and Argentina.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">There have been two instances, one via the Federal Commission for Protection against Health Risks, directed by Alejandro Svarch.<\/span><\/span><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\"> <\/span><\/span><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">And the other where states and municipalities, as local authorities that issue operating permits and authorizations, delayed their financial restructuring plan until the last quarter of this year.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.mundovideo.com.co\/assets\/international\/codere-is-losing-the-bet-in-mexico2.jpg\" style=\"width:100%\" \/><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">The rooms in Mexico are strategic for Codere&#39;s profitability, however the closure of the Yak rooms in the metropolitan area of CdMx, Sinaloa and Quintana Roo remains.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">And they have not been able to correct the irregular practices with which they operated, such as regularization of municipal licenses, civil protection regulations, operating hours, smoking areas, among others.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.mundovideo.com.co\/assets\/international\/codere-is-losing-the-bet-in-mexico3.jpg\" style=\"width:100%\" \/><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">The company operates the Yak casinos, the Hip&oacute;dromo de las Am&eacute;ricas concession and the Citibanamex Center in Mexico.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.mundovideo.com.co\/assets\/international\/codere-is-losing-the-bet-in-mexico4.jpg\" style=\"width:100%\" \/><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">The investment funds that control Codere, among others J&uacute;piter, Davidson Kempner and PGIM, have set the immediate objective of recovering the value of the company and then executing their exit in the following years.<\/span><\/span><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\"> <\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>At the end of the first semester, Codere tripled its global losses compared to 2022, due to the closure of more than 10 gaming rooms, both in Mexico and Argentina.<\/p>\n","protected":false},"author":1,"featured_media":2704,"menu_order":333,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"inline_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[],"tags":[901,904,902,903],"class_list":{"0":"post-2703","1":"gambling","2":"type-gambling","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-at-the-end-of-the-first-semester","8":"tag-both-in-mexico-and-argentina","9":"tag-codere-tripled-its-global-losses-compared-to-2022","10":"tag-due-to-the-closure-of-more-than-10-gaming-rooms","11":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - 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