Global Presence

Argentina

San Miguel, ArgentinaCODERE’s activity in Argentina is in the province of Buenos Aires, where it operates slot machines and bingos located in 14 bingo halls. In recent years CODERE has become one of the leading companies of the private gaming sector in Argentina.

In 1991, CODERE opened its first bingo halls in the Province of Buenos Aires. At the end of the decade, slot machines were allowed into the bingo halls.

In 1998 CODERE acquired a 25% stake in the bingo operator Grupo Royal, a percentage that subsequently rose to 94% and which is currently 100%.

Codere Group is the largest gaming hall operator in the Province of Buenos Aires. Before the pandemic (as of March 31, 2020), it operated a total of thirteen gaming halls, 6,861 slot machines, and 11,692 bingo seats. Codere’s gaming halls are located primarily in and around Buenos Aires (Greater Buenos Aires), where the company operates eight halls; the tourist city of Mar del Plata, where there are four gaming halls; and the provincial capital of La Plata, where there is one hall.The company also plans to operate online gaming in the City of Buenos Aires in 2021.

Codere’s operations in the country are carried out through bingo licenses (one per hall), which are due to terminate in two cycles, the first running from 2021 to 2024 (eight licenses) and the second from 2028 to 2029 (five licenses). In these halls, we operate slot machines as well as traditional bingo games.

The company continued to optimize its facilities in 2011 with the introduction of the coinless TITO (Ticket-In, Ticket-Out) system, having completed the installation in over 90% of the machines in the province of Buenos Aires, and the implementation

Both from the financial point of view as well as for growth potential, Argentina has become the biggest market in recent years for Codere. Among the main novelties of recent years stands out the enhancing of the Smoking Clubs (2014) of the gaming halls, which are designed as exclusive spaces with state-of-the-art gaming machines, food & beverages facilities and first class customer care. Moreover, and in line with the impetus to the development of responsible gambling in previous years, the company continues to develop initiatives with an important social outreach and promoting activities in the municipalities where it operates.

Due to the situation caused by Covid-19, the Argentinian business unit has remained closed since March 16, which has caused a decrease in adjusted EBITDA of nearly 100%, due to the lack of revenues in the second and third quarters of the year.
 
On December 14, 2020, the government of the Province of Buenos Aires authorized the reopening of the group’s thirteen gaming halls. Although their operation was subject to certain restrictions, the initial performance of the Argentinian market has been quite positive, with a total of 13 gaming halls and 3,431 slot machines operating as of December 2020, 13.

Activity areas (2020):

  • Gaming machines: 3,431
  • Gaming halls: 13

Turnover (2020):

  • Revenue: €70.7 million 
  • EBITDA: €(5.5) million 

Milestones:

  • 1991: CODERE commences operations in Argentina 
  • 2005: Purchase of the bingo operator Grupo Royal 
  • 2007: Renewal of 5 bingo licences until 2021
  • 2008: Introduced the coinless TITO (ticket in-ticket out) system
  • 2009: Renewal of Bingo La Plata licence until 2021 
  • 2010: Renewal of Bingo San Martin and Puerto until 2021
  • 2011: Renewal of the Lomas de Zammora, Ramos Mejia, SanMarin, San Miguel and San Justo gaming halls
  • 2012: Renewal, until 2028 and 2029, five of the licenses for the operation of the gaming halls in the province of Buenos Aires.
  • 2013: Renewal of five gaming halls licenses  
  • 2014: New Smoking Clubs inside 5 gaming halls. Thrust of the Responsible Gaming Program in the gaming halls. 
  • 2015: The company opened 6 new gaming halls and gave greater impetus to the entertainment events.
  • 2016: Promotion of actions with CLUB customers, and implementation of its SPACE (CRM) platform in five gaming halls to achieve integral customer management.

CODERE Argentina

  • Avda. Libertador 1068 - 9º Piso
    C1112ABN - Buenos Aires
    Capital Federal - Argentina
  • Phone: +(54) 11 50317500
  • Fax: +(54) 11 50317500 Int. 61909
  • email: arg.comunicaciones@codere.com
  • web: www.codere.com.ar