Tijuana, Mexico (PRWEB) March 20, 2011
On March 7, 2011 the Federal Competition Commission of Mexico confirmed its authorization, allowing Grupo Caliente to grant Codere participation in 3 of its 8 companies. While concurrently allowing Caliente participation in two of Codere's Mexican companies.
Under this authorized agreement, Codere obtains 67.3% in 3 of the 8 companies owned by Caliente. Caliente, in turn, gains 32.7% of Mio Games and Promojuegos currently owned by Codere.
This important authorization consolidates the strengthening of Caliente's relationship with Codere in Mexico while restructuring its financial position as it faces the important challenges of an expanding gaming market.
Under this agreement both companies establish very specific investment and growth commitments while agreeing to continue operating under the Caliente brand.
Caliente will continue to retain full ownership of its other 5 licenses. This recent exchange serves to reinforce its market position with new capital resources for its investment projects.
With this strategy, Grupo Caliente ratifies its trust in Mexico and to the continued growth of its services to its clients; further confirming its position in the entertainment industry with the highest levels of technology, compliance and security that have been among its core values for over 25 years.
The Caliente Group captures downloaded signals from its simulcast partners and then uploads them to rebroadcast over a very large satellite footprint that includes all of Mexico, Central and South America along with portions of Western Europe.
Caliente's Race & Sports Book OTB locations have shown robust growth, now numbering over 174 in Mexico with more Caliente locations operating in the following countries: Austria, Brazil, Ecuador, Panama, Paraguay, Peru, Uruguay, Venezuela and The Caribbean.
The full card racing programs from over 50 tracks are carried annually by Caliente. Those tracks include the major players in the thoroughbred world such as Santa Anita, Churchill Downs along with the NYRA tracks, California, Florida and Texas tracks. Additionally, there are broadcast agreements with tracks in the UK, Australia, Panama and Uruguay among others.
The Caliente book operation also features betting on major sports throughout its network of Race & Sports Book OTB locations. Sports signals and betting opportunities that are carried by Caliente include all of the major sports events in the U.S. - football, basketball, baseball and hockey - plus soccer from around the world along with auto racing, boxing, jai alai and other one-off special events.
The company's heritage dates all the way back to 1916 coming from the Agua Caliente Race Track, featured in the famous motion picture, Seabiscuit. Drawing from its extensive technological and labor infrastructure, Caliente provides race and sports book signals, tote and operational services to its vast Latin American and Western European network. Live greyhound racing is staged every day of the year at the Caliente racetrack. Bingo-based electronic games and traditional bingo halls are distributed among the most important cities in Mexico.
Caliente recently unveiled a $26 million upgrade to its existing Tijuana - based racetrack, renaming it the Caliente Casino. The new casino features live racing, race and sports books, gaming halls, bingo-based electronic betting terminals, shopping, and entertainment. Covering 228,000 square feet, the Caliente Casino is now the largest casino in Mexico.
Caliente, a Mexican Corporation, is the biggest gaming operation in Mexico, employing over 8000 people.
CODERE is a leading Spanish multinational company in the private gaming sector in Europe and Latin America. At 30 June 2010, the Company managed over 54,000 slot machines, 139 bingo halls, 275 betting locations, 3 racetracks and 7 casinos in Spain, Italy, Argentina, Brazil, Colombia, Mexico, Panama and Uruguay.
CODERE is the only Spanish gaming sector Company that has been listed on the stock exchange since 2007. In 2010 CODERE celebrates its 30 years in the private gaming sector and it holds a position of leadership in the core business lines and geographic areas where it operates:
- Biggest bingo hall operator in Mexico, through agreements with local partners.
- Biggest gaming sector operator in the province of Buenos Aires.
- Top gaming operator in other growth markets: Italy, Panama, Colombia, Brazil and Uruguay.
In a highly regulated economic sector, CODERE has opted for the most advanced technological solutions to optimise profitability of its investments, maintaining a strategy of growth, geographic expansion and diversification of its activity with a vocation of global leadership.
Professionalism, transparency, excellence, innovation and responsibility are the operating guidelines of a highly qualified management team, supported by committed personnel and backed by a group of shareholders with in-depth experience in the gaming sector.