Global Presence

Uruguay

Hipódromo Nacional, MaroñasCodere concentrates its operations in Uruguay in Montevideo and surrounding areas, by operating Maroñas National Racetrack and all the activities carried out therein: horse betting system, gaming halls with gaming machines, betting locations and online gaming.

In 2002, the Uruguayan Government awarded the contract to operate the Maroñas Racetrack to Hípica Rioplatense S.A. (a joint venture between Codere and the SLI Group) for a period of 30 years. With the reopening in 2003, which represented an investment of 50 million dollars, Maroñas has regained its prestige as a racetrack of the first order and is Codere's first incursion into the business model known as racino.

This business means transforming the racetrack into an entertainment centre, combining races with casino-type games such as slot machines or other kinds of betting. On the back of the experience in Uruguay, Codere has successfully exported this model to Panama and Mexico.

Also, the strong technological investments made by Maroñas have turned this racetrack into the most modern in Latin America, capable of offering simulcasting, an exclusive system of simultaneous bets via satellite TV, which permits the exchange of races between Europe, North America and Latin America.

In 2012 Codere expands its business in Uruguay with Las Piedras Racetrack, following the granting of a new license for the ownership, use and operation for a period of 30 years. It will be inaugurated in mid-2013.The Hotel Casino Carrasco was reopened in March 7, 2013.

In 2014, Las Piedras Racetrack inaugurated the Jockeys & Horse Grooms Academy, an important step forward for the industry to become increasingly professionalized.

During 2014, the Sofitel Montevideo Casino Carrasco & Spa kept boosting its market brand position as Entertainment Flagship(Emblema de Entretenimiento), redefining its gambling areas, VIP spaces and creating a smoking gambling area, besides hardly promoting the wide range of entertainment activities in the casino. The restoration work of the casino finalized in 2014, within the period agreed with the Municipality of Montevideo.

Moreover in 2015, the company – also managing the Sofitel Montevideo Casino Carrasco & Spa – continued its brand positioning campaign based in the concept of “Entertainment Flagship”(“Emblema de Entretenimiento”), redefining its gambling areas, VIP spaces and creating a smoking gambling area, besides hardly promoting the wide range of entertainment activities in the casino.

In 2016, Hipódromo Nacional de Maroñas made the greatest investment since its reopening, constructing its new grass track and Villa Hípica, in addition to investing in significant technological improvements which will enable it to transmit its signal in HD. Likewise, the venue veterinary service was certified under the ISO 9000 standard, and the racetrack received the principal world turf authorities at the ICRAV (21st International Conference of Racing Analysts and Veterinarians). At year-end,  Codere acquired the remaining 50% of HRU (Hípica Rioplatense de Uruguay), integrating complete management of its activities.

The company’s operations have been impacted since the final months of 2020 and early January 2021, due to worsening developments in the pandemic.

Areas of Activity (2020)

  • Gaming machines: 1,471
  • Gaming halls: 6
  • Betting locations: 25
  • Racetracks: -

Figures (2020) 

  • Income: €52.3 million euros
  • Adjusted EBITDA: €18.8 million euros

Milestones

  • 2002: Granting of concession 
  • 2003: Reopening of the Maroñas racetrack
  • 2009: Awarding of the contract for rebuilding Hotel Casino Carrasco. 
  • 2010: The beginning of the Casino Carrasco refurbishment works.
  • 2011: Progress in the works for Hotel Casino Carrasco.
  • 2012: Awarding of license for Las Piedras Racetrack.
  • 2013: Reopening of the Casino Carrasco.
  • 2014: HRU continued to consolidate itself as a major partner for the state in managing the horse racing industry and opened a Jockeys Academy at Las Piedras Racetrack. Moreover, the Sofitel Montevideo Casino Carrasco & Spa finalized the restoration works committed to the Municipality of Montevideo and promoted new services and activities for its clients within its entertainment areas.
  • 2015: Since 2015 Uruguay has 12 horseraces included in the Part I of the International Cataloguing Standards Book of the IFHA which returns the international category to the main horseraces held at Maroñas National Racetrack. In addition, in 2015 the Sofitel Montevideo Casino Carrasco & Spa finalized the reconstruction works committed to the Municipality of Montevideo and promoted its entertainment areas with new services, spaces and activities for its clients.
  • 2016: Codere integrated its business in the country with the purchase of the remaining 50% of HRU, its subsidiary in Uruguay. In the Maroñas venue, it made significant investments in installations and the Villa Hípica. In addition, Sofitel Montevideo Casino Carrasco & Spa refocused its business in the local market.

CODERE Uruguay