Spain’s Codere is to significantly increase its investment in the Colombian market, one of the company’s key executives said.
In an interview with Bloomberg, Diego Felipe Navarro said Codere could inject around $21m in its marketing activities and the opening of the Zona T Crown Casino in Bogota in May.
That would represent a 40 per cent increase in investment, he said.
“Colombia’s new regulator has an administrative structure that will seek to promote gaming,” he added. “Confidence in Colombia is up.”
Codere is one of Latin America’s largest gaming groups and has been operating in Colombia since 1984. The company presently has an estate of 6,200 gaming machines in over 50 gaming halls. Since 1999 it has operated Crown Casino Cali, formerly the Cali Gran Casino, and opened Crown Casino Palatino in 2009.
Colombia was recently revealed to be a target market for Chilean casino operator Enjoy, which described the country as “open to foreign investment.”
Given the limited number of new opportunities in its domestic market – one of the continent’s most mature – Enjoy said it would be exploring the possibility of new projects in Colombia.
