Codere SA launches into the iGaming market of Buenos Aires
Spanish gaming operator Codere SA has announced that its full portfolio of online casino and sportsbetting entertainment is now available to aficionados in six jurisdictions following the launch of its Codere.bet.ar domain into the Argentinian city of Buenos Aires.
The Madrid-headquartered firm used an official Thursday press release to detail that the mobile-friendly site from its Codere Online subsidiary is now live to punters over the age of 18 in the largest city in Argentina under a five-year license recently issued by the autonomous jurisdiction’s Loteria de la Ciudad de Buenos Aires (LotBA) regulator. The company disclosed that this certification joined analogous iGaming authorizations it already held for the countries of Spain, Mexico, Italy, Colombia and Panama and was issued in October just as it chalked up an increase of 8.5% year-on-year in its nine-month net revenues to over €499.6 million ($572.7 million).
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Codere SA explained that it will now be expected to pay a 10% tax on all earnings made from its Codere.bet.ar domain to Buenos Aires, which is the fourth most populated metropolis in the Americas behind only Mexico City, Sao Paolo and New York City. The operator stated that it is to begin offering local aficionados the ability to wager ‘on international sporting events’ in addition to ‘numerous sporting events throughout Argentina’ where holds a sponsorship deal with the nation’s popular Club Atletico River Plate soccer team.
Landmark license:
Moshe Edree serves as the Managing Director of Codere Online and he used the press release to describe the launch of Codere.bet.ar into Buenos Aires as ‘a critical milestone’ in his firm’s overall ‘business plan’ that is to moreover present Codere SA with ‘a complimentary opportunity’ to boost its own ‘strong brand awareness’ throughout the entire nation of Argentina. The executive furthermore declared that his parent company has been active in Latin America’s fourth most populated country since 1992 and ‘is currently a well-established operator’ via a portfolio of 13 retail bingo halls.
Read a statement from Edree…
“The city of Buenos Aires has an adult population of nearly 2.4 million, which together with between three and four million commuters, will provide us with a sizable opportunity to reach new customers.”From: game casino
Crowded company:
However, a source reported that Codere SA is not alone in recently being given the chance to offer iGaming entertainment to the population of Buenos Aires as the market already features the Jugadon.bet.ar and BPlay.bet.ar domains and will soon be further expanded via the sites at Super7.com.ar and BetWarrior.bet.ar. All of these will purportedly be looking to secure a significant presence in the giant city’s embryonic iGaming market in hopes of eclipsing the more established services from the Casino Buenos Aires development and nearby Hipodromo Argentino de Palermo racecourse.