Codere Group, one of Mexico’s biggest gambling venue operators, have received a setback after a Mexican tribunal ruled that they can’t open other 45 new casino establishments in the country.
The Mexican federal tribunal has turned down the company’s plea to allow them to offer new casino licenses as it revoked the exclusive exemption which allowed them to license gambling properties following orders from the Ministry of Interior.
The Codere Group operates a total of 95 gambling venues in the country.
It was in 2007 when the group was granted their first concessions to expand their gambling operations in the country.
Further, in 2012, following a change in the country’s gambling laws, it was established that one license holder cannot continue with gambling operations at multiple venues across the country and that it should be limited to “single gambling establishments.”
However, Codere was granted an exemption from the Ministry of Interior. After they appealed to the tribunal seeking permission to operate 45 new venues, the court said that they can’t be given any further exemption as they have already been given several favorable rulings.
The company is one of the biggest gambling operators in Mexico and has been in the market since 2004. Codere recently inaugurated their two new gaming halls with 20,000 betting terminals.
The gambling market in Mexico is expanding; however, if one license holder is allowed to operate at many different establishments across the country, it would adversely impact the growth of the casino industry in Mexico.