In an ongoing effort to expand Thoroughbred racing's integration and presence in Latin America, Codere has taken another step toward sharing commingled wagering pools between major tracks through a reciprocal agreement signed Sunday between Jockey Club Rio Grande do Sul in Porto Alegre, Brazil, and Hipodromo Presidente Remon in Panama.
The historic formal signing ceremony was conducted during the afternoon of the running of the Clasico Presidente de la Republica at Hipodromo Presidente Remon. The event was attended by Panama President Juan Carlos Varela Rodriguez. On hand for the signing were Jose Vecchio Filho, president of Jockey Club Rio Grande do Sul, Miguel de la Marta, managing director of Codere Panama, and Ramon Rionda, vice president of racing for Codere America.
“This represents a major step for Latin American racing,” Rionda said. “The long-range potential is significant. We are exploring additional new opportunities.”
Codere, betting partner with Jockey Club do Rio Grande do Sul, launched the first ever commingling simulcasting agreement in the region last month when it agreed to share signals with Maronas race track in Montevideo, Uruguay.
“We're always searching for new sources of revenue and this move not only creates jobs in racing, it will benefit the breeding industry as well,” said Andre Gelfi, managing director for Codere in Brazil.
This represents the next step in Codere's plans to expand commingled simulcast pools throughout Latin America and beyond. The two actions provide Rio Grande do Sul with expanded access to wagering markets and, in all cases, allows the partner tracks to enhance its revenue potential.
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