Madrid, October 21, 2020 - The Government of the City of Buenos Aires, through its gaming management body LOTBA (Lottery of the City of Buenos Aires) has approved the Program for the Implementation of the Online Game Platform presented by Codere (which includes its implementation and execution plans). This important milestone is the first step in the process of obtaining the license that will allow the company's online gaming offer in this jurisdiction, being Codere the first company to achieve this advance.
A complex and strategic step in the expansion of the online business
The authorization process in the city of Buenos Aires was opened on February 20th and, since then, a multidisciplinary team from Grupo Codere, led by the regional team of Argentina (compliance, legal, financial...), together with the Platforms area and the Online division, started to work on the preparation of the project with great responsibility and in the middle of the complex context of health crisis, presenting their proposal at the beginning of May.
For Codere, it is especially important to have achieved this first milestone for obtaining the license in the City of Buenos Aires, one of the main jurisdictions and with greater potential in the country, being the first company to achieve it of all those that have applied.
In the words of Bernardo Chena, regional manager of Codere Latin America (excluding Mexico), "this milestone highlights the strength of the group, the quality of its offer and the viability of Codere's online expansion project in Latin America".
It should be noted that the regulatory framework in the city of Buenos Aires responds to the most advanced international standards in relation to responsible gambling, player guarantees and protection of vulnerable groups; a perfect fit with the objectives that Codere Group is promoting in all the countries where it operates.
The next step in the process requires the execution of the operational tasks necessary for the production of the systems, development and integration of certain components of the platform, allowing the marketing and/or distribution of the online games included in the approved application - tasks on which the dedicated team is already working.
Thanks to this important step, Codere boosts its activity in Argentina, where it started its activity nearly 30 years ago and is currently the largest operator of gaming rooms in the Province of Buenos Aires, with the operation of 13 rooms and more than 6,850 machines. This is an advance with which the company is also promoting its strategy to expand its online business in Latin America, where the group already operates in Mexico, Colombia, Uruguay and Panama, offering a wide portfolio of products and services adapted to each market, with the aim of becoming one of the leading firms in the region.//
Codere is a gaming operator, an international benchmark, with a presence in seven European countries - Spain and Italy - and Latin America - Argentina, Mexico, Panama, Colombia and Uruguay - which operates more than 57,000 machines, nearly 30,000 bingo stations and 8,500 sports betting terminals in Latin America, Spain and Italy through points of sale that include 148 gaming halls, 1,200 arcades, nearly 9,200 bars, 245 betting rooms and four racetracks. The company also develops online gaming. www.grupocodere.com