Codere purchases 35.8% interest in parent company of Mexico’s premier racetrack

by | 02.20.2012 | 11:26am

Codere, a prominent gaming and horse racing company based in Madrid, Spain, has
purchased  35.8 per cent of ICELA the parent company of Hipodromo de Las
Americas, Mexico's premier racetrack in Mexico City, for $209 million (US).

The Spanish company also owns Panama's Hipodromo Presidente Remon, which hosted
the 2011 Clasico del Caribe, and owns 50 per cent of Maronas National Racetrack
in Montevideo, Uruguay. Codere also has a management contract with Jockey Club
do Brasileiro in Rio de Janeiro, Jockey Club Rio Grande do Sul in Porto Alegre
and Jockey Club de Parana in Parana.


The purchase of ICELA (Impulsora de Centros de Entretenimiento de las Américas),
from Corporacion Interamericana de Entretetenemiento (CIE) a public company with
headquarters in Mexico City, gives Codere 84.8% of The Entertainment Center de
Las Americas.

The track operates 150 race days per year and also includes a theme park for
children, gaming centers, sports wagering, international simulcasting and
electronic games, as well as the main convention center in Mexico.

Ramon Rionda, Director of Racing Operations for Codere, called the purchase a
major development for the multinational company.

“Taking over this impressive complex underscores our commitment to horseracing,”
Rionda said, “and reinforces our integration strategy for the region.”

CODERE is a Spanish multinational, a benchmark in the private gaming sector in
Europe and Latin America and listed on the Spanish Stock Exchange. The Group
manages more than 54,600 gaming machines, 191 gaming halls, 813 betting
locations and participates in the management of 3 racetracks, in Argentina,
Brazil, Colombia, Spain, Italy, Mexico, Panama and Uruguay, and is also engaged
in Internet gaming activities in Italy, where it holds the relevant licences”.

Codere was the first gaming company to go public at the Madrid Stock Exchange.

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