Spanish operator Codere has signed a deal with gaming software provider Las Vegas From Home.com Entertainment and the Salinas TV Azteca Group to launch an online gaming site in Mexico.
The three companies have signed a letter of intent to work together on the project, with Codere taking a 51 per cent share and Las Vegas From Home.com Entertainment (LVFH) holding the other 49 per cent. Azteca’s involvement comes via a deal agreed in September 2012.
LVFH’s share of the profits will be 25 per cent with the software provider also licencing its gaming platform to the Mexican partnership and receiving ongoing software licensing royalties.
The site will use LVFH’s gaming platform on an exclusive basis for its online gaming website,www.greenplay.mx, and is expected to launch by August 20, 2014, offering bingo, sports betting, poker and a suite of casino games such as slots, blackjack and roulette.
LVFH president and chief executive officer Jake Kalpakian said: “We are thrilled at this development, as LVFH shall now be associated with a leading multinational gaming company such as Codere and with a multimedia conglomerate such as Azteca. LVFH shall benefit significantly from this enviable position of participating legally in the huge Mexican iGaming market and with the opportunity of being able to get involved in other countries in the Americas where online gaming is legal.”