Business Areas

Racetracks

RacetracksCodere operates directly, or through Hípica Rioplatense de Uruguay (HRU), four racetracks: the Hipódromo de las Américas (Mexico), Hipódromo Presidente Remón (Panama) and the Hipódromo Nacional de Maroñas (Uruguay) and, the Hipódromo de las Piedras in this country.

Codere Group, thanks to its industry expertise and excellent management procedures, is providing successful formulas for the revitalization of this activity, which in the late nineties was in recession in Latin America, and that is regaining its dynamism and provides ample opportunities for development.

The equestrian business has continuously evolved and now, beside horse racing and betting, it also operates under the model of racino (combination of horse racing and casinos), enabling installation of gaming venues in equestrian partner rooms or the racetrack, in order contribute to financing this activity.

Hipódromo de Las Américas (Mexico), Hipódrome Presidente Remón (Panama) and the Hipódromo Nacional de Maroñas (Uruguay) are part of the International Federation for Equestrian Authorities (IFHA), a renowned international organization responsible for promote the good regulation and best practices on global equestrian affairs.

Development of the business

Uruguay

In 2002 the Government of Uruguay Codere awarded, in joint venture with SLI, the concession for managing the historical National Resume Hippodrome has had, in recent years, an absolute prominence in social and economic life of Uruguay .

The granting also included the operation of betting shops and gaming machines outside the racetrack and simulcasting service of racing in that constitutes Codere raid into the business model that combines racino casino gaming with own products related careers.

In 2012 Codere achieved the license for the ownership, use and operation for a period of 30 years of the Hipódromo de Las Piedras, through its subsidiary Equestrian Rioplatense of Uruguay (HRU SA). In this new space Codere also operate with the racino model.

In June 2013, Hipódromo de las Américas celebrated 10 years of activity, marking a decade characterized by significant achievements in the turf industry, which was reactivated equestrian activity and increased pure breeding blood, among other activities.

Panama

Since October 2005 Codere is the concessionaire company of the Hipódromo Presidente Remon in Panama City (Panama), whose license includes the operation and management for twenty years, renewable for a similar amount.

Panama Codere besides being part of (IFHA) is also part of the regional organizations of the sector as the Latin American Jockey Club and Racetrack and, since 2009, also OSAF (Organization Promoting South American Thoroughbred).

Among the activities of impulse and dynamic equestrian sector, Codere drives Technical Training Academy Riders Laffit Pincay Jr. opened on March 17, 2009. In 2013, various events were held there, such as: XLVI Clásico Internacional del Caribel, the most important equestrian event in the region, organized for the second time by Codere Panama

Mexico

In 2007, Codere acquires 49% of ICELA (owned subsidiary of its Mexican partner CIE) and begins to participate in managing the Hipódromo de las Américas in Mexico City In 2012 formalized the purchase of an additional 35.8% ICELA, thereby becoming the majority shareholder with a share of 84.8% after execution of the option.

In 2013, the 70th anniversary of Hipódromo de Las Américas was celebrated. Also the XLVIII Edition Longines Handicap de las Americas was held, this is the most important race of the year. The Hipódromo de las Américas is a representative icon of social life and entertainment of the city and has become the main venue for horse racing in the country.

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Hípica Rioplatense de Uruguay (HRU):