Mar
12
03/12/2013| 05:08am US/Eastern
PRESS RELEASE
Two major companies join forces to make sports betting available to Galicians
COMAR and CODERE apuestas launch sports betting in
Galicia
• “COMAR”, Galicia’s main gaming operator, is joining forces with “CODERE Apuestas”, the only company in the industry to operate sports betting throughout all of the Autonomous Communities where betting is regulated in Spain, to launch sports betting in the Autonomous Community of Galicia.
• Thanks to this agreement, “CODERE Apuestas” will be operating 333 betting points within the hospitality industry, 18 gaming establishments, in addition to its presence via its own shops and gaming halls. The launching of this activity was started on Friday March 8 with the opening of three rooms, along this week is expected to open 5 more betting establishments.
• CODERE’s betting business has grown at a rate of over 50% on a stable base of betting points in 2012. In Addition, the increase of 69% of the revenue from the sports betting business as a result of product improvement and the increase in the number of betting points which totaled 1,176, a 85% of the Company’s business.
Madrid, Corunna, 12 March 2013. CODERE Apuestas is already operating sports betting in Galicia hand-in-hand with the COMAR Group, Galicia’s leading gaming operator, possessing wide-ranging experience in the gaming and recreational sector. Thanks to this agreement, these two companies will be maintaining a leading position on Galicia’s market thanks to the “CODERE Apuestas” sports betting business model, operating 333 betting points within the hospitality industry, 18 gaming establishments plus specific betting establishments.
Since the Sports Betting Regulation was passed in this Autonomous Community on August 3, 2012 and after having been officially granted licenses and permits on the part of the Autonomous Community Government of Galicia, “CODERE Apuestas” will be starting up operation, hand-in-hand with COMAR this week with eight rooms, three of which are already operational from Friday March 8 in Corunna: Comar Gaming Rooms (Barcelona, in Barcelona Rua, Rubine, on Avenida of Rubine and Seyer, in Rua dos Caballeros), which already have made the first bet.
Thanks to the Alliance of these two major gaming companies, CODERE is confirming its position as the sole betting operator present in all 6 Autonomous Communities where betting is regulated in Spain: Madrid, Basque Country, Navarre, Aragon, Valencia and also Galicia. Hence, the Spanish market is consolidated as one of the Group’s driving forces with some 1,176 betting points, a 85% of the Company’s business. There was a notable increase of 69% of the revenue of the sports betting business as a result of product improvement and the increase in the number of betting points.
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Plan for Expansion through local partners
The agreement with the COMAR Group – Galicia’s number one operator in the operation of both gaming establishments and bars – is a demonstration of the importance the CODERE Group places on its alliances with local partners enabling “CODERE Apuestas” to consolidate its intense expansion plan as the different Autonomous Communities progressively regulate this activity.
Jaime Estalella, CODERE Europe’s COO, comments: “We are quite satisfied with our agreement with the COMAR Group, which possesses an in-depth knowledge of private gaming and is extremely well-positioned locally in Galicia, thus rounding out CODERE’s offer and know-how”.
Similarly, COMAR’s General Manager, Javier García, commented that “we are highly pleased to be working with the leading sports betting operator in Spain. Besides, thanks to this agreement, we are bolstering our position in Galicia, our natural market, which is going to be one of the Autonomous Communities where this activity is going to be expanding the most in 2013”.
Over the upcoming months, CODERE’s expansion plan is aimed at continuing to increase the number of betting terminals and establishments in the regions where it is operating and to continue working with the finest partners in this Industry.
This week will also open the following COMAR betting rooms in Corunna: (Cuatro Caminos, in Cuesta de Palloza; Galiano, in Rua de Galiano and Rua Nueva, in Rua Nueva); in Lugo (Lugo, in Rua del Obispo Aguirre) and Orense (Orense, in Rua Do Paseo).
About COMAR Group
This Company, founded in 1984, was initially operating in the leisure time and tourism services industry. This Group is currently comprised of 60 companies operating on national and international markets in many different fields of activity: casinos, bingo halls, gaming
establishments, in addition to tourism (hotels, restaurants) and quality real-estate development
now comprising part of the companies currently pertaining to the Group.
About CODERE Group
CODERE is a Spanish multinational, a benchmarker in the private gaming Industry in Europe and
Latin America, employing over 20,000 people and listed on the Spanish Stock Market, plus managing more than 56,474 gaming machine, 186 gaming halls, 3 horseracing tracks and 1,379 betting points in Argentina, Brazil, Colombia, Spain, Italy, Mexico, Panama and Uruguay and
operates online gaming in Italy, where it holds licenses for this purpose.
NOTE: More information at www.codere.com
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