BUSINESS

Codere benefits from Latino heat; Probability gets Italian licence; Perform takes on more content

TAGs: argentina, Codere, Italy, mexico, Perform Group, playyoo, probability, Serie A, spain

probability codere performCodere has reported an increase of 28 percent in operating revenues as their home market of Spain continued to falter. Revenues for the nine months to September 30 were €1.261billion and they owe a massive dollop of thanks to their Latin American markets in Mexico and Argentina, and Italy, for making sure that the poor economy in Spain didn’t have too adverse an effect. Breaking it down, Argentina reported turnover up 26.2 percent to €508.3m and earnings up 9.1 percent. Mexico saw turnover balloon by 60 percent to €327.4m and earnings increase by 68.5 percent to €72.1m. Italy, meanwhile, posted a turnover uplift of 28.3 percent to €193.7m whilst earnings decreased by 12.3 percent due to higher taxes. The boon that is Spain reported a turnover decrease of 11 percent. It all meant a net loss for the group as a whole of €34.4m that was mainly down to restructuring in Mexico. With the loss of their case against PokerStars to throw into the mix as well it’s safe to say they won’t be dancing the Macarena too much this week.

Mobile gambling specialists Probability have been awarded a ten-year remote gambling licence by the Italian regulator AAMS. The decade-long licence will see the company add a white label offering to the B2B offering they already have with their Playyoo subsidiary and the licence itself will cost them €300k over the ten years. Charles Cohen, CEO of Probability, added: “With the licensing of slots for online and mobile users expected to start later this year, we feel we are in the right place at the right time, with the right offering, to succeed in this very exciting European market.”

Perform Group have extended their content partnership with Italy’s top football league. Lega Serie A came to the three-year agreement with Perform and it will allow free-to-view highlights to be rolled out across Perform’s portfolio and it also hastens the arrival of a Lega Serie A YouTube channel.

Comments

views and opinions expressed are those of the author and do not necessarily reflect those of CalvinAyre.com