BUSINESS

CG Technology makes inroads into Latin America with Logrand Group deal

TAGs: Cantor Gaming, cg technology, logrand group, mexico, sports betting

cg-technology-logrand-group-mexicoSports betting technology company CG Technology (formerly Cantor Gaming) has inked a deal to supply sportsbook technology to eight Mexican brick-and-mortar casinos, including the country’s largest gaming facility. The system licensing agreement with the Logrand Group represents CG Technology’s initial foray into the Latin American market.

The deal calls for CG Technology to license its sportsbook system, along with its mobile wagering technology, to eight Logrand casinos, including the mammoth Jubilee Casino in Monterrey, Nuevo Leon. The other facilities are located in Cancun, Quintana Roo, Guadalajara, Villahermosa, Tabasco, Sinaloa and soon to be opened new facilities in Merida on the Yucatan peninsula. The deal allows for Logrand to utilize CG Tech’s software at additional locations should further expansion be in the cards.

CG Technology CEO Lee Amaitis celebrated the deal, saying the company had “long seen inherent value” in the Mexican market. Logrand Group’s Julian Symaniw said the deal left his company well positioned to respond to recent regulatory changes that require account-based wagering.

CG Technology currently supplies sports- and racebook technology to eight Nevada casinos, including its intrastate mobile wagering service, which accounts for over half of wagers handled by the company. The company also supplies tech to the Atlantis casino in the Bahamas, on-board services on Celebrity Cruise ships and recently inked its first Asian sports lottery deal via the new Cantor Club in Tianjin, China.

Mexico is currently in the process of revising its nearly 70-year-old gambling laws. Last August, the government promised to introduce new gambling legislation in the parliamentary session starting that September. In March, legislators proposed the formation of a National Institute of Gaming to oversee the revising of the country’s gambling regulations. Early in 2013, legislators circulated a draft bill that would have restricted online gambling to operators holding a land-based gambling license and promised stiff jail sentences for violators. However, very little has been said publicly about this draft since its release.

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