On Tuesday, Evolution announced that it had reached an agreement to be the exclusive live casino supplier to Codere’s new Mexican online gambling site Codere.mx. Codere is already Mexico’s largest land-based gaming hall operator by a large margin via its partnerships with Grupo Caliente and Compañía Interamericana de Entretenimiento.
The deal will see Codere enjoy the full pantheon of Evolution live casino products, including standard and VIP tables for live roulette, blackjack, baccarat and baccarat squeeze games, as well as numerous poker variants and Evolution’s new proprietary Dream Catcher Lucky Wheel product.
Codere CIO Felipe Ludena Munoz said Evolution’s live casino pedigree gave his company confidence that the new product would “maximize immediate and future online live casino opportunities in this market.”
Evolution regional director Gionata La Torre logrolled back, saying the company was proud to be making its Mexican market entry with “a major global brand” such as Codere.
Mexico has been teasing online operators for years with promises of a regulatory revamp that will bring some certainty to the more or less unsupervised online gambling market. But the head of the country’s gambling industry association recently expressed skepticism that legislators would be able to pass their new Law of Games before 2018 at the earliest.
Codere had a rough ride in 2016, reporting a net loss of €1.12b due to the company’s painful restructuring of its long-term debt. Mexico remains Codere’s second biggest market (after Argentina), accounting for €330m of the company’s overall revenue of €1.5b last year.