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| Codere renews its Bingo La Plata License |
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The license renovation will have validity until June 30th, 2021. The Instituto Provincial de Lotería y Casinos de la Provincia de Buenos Aires, or “IPLyC” (the gaming regulator of the Province of Buenos Aires), resolved, and communicated on October 6, 2009 Resolution 75/09, which renews the La Plata license through June 30th, 2021 in accordance with Decree 3198 and Resolution 456/06. This new Resolution 75/09 stipulates a €5 million up-front renewal fee and a canon tax surcharge of €24 million, accrued and payable in 5 years starting November 1st, 2009. This Resolution finishes the process of renovation of La Plata Hall license, which generated approximately 11% of revenues and 14% of EBITDA for the CODERE Group in Argentine in 2008. The renovation process for this license has been delayed since June 2007, its original expiry date. The CODERE Group CODERE is a Spanish multinational leading gaming company in Europe and Latin America. It operates more than 53.453 gaming machines, 140 bingo halls, 160 off-track betting facilities, 3 racetracks and 6 casinos in Argentina, Brazil, Colombia, Spain, Italy, Mexico, Panama and Uruguay.
Source: Press release |
This resolution finishes the renovation process of the license of one of the most important halls in Argentina. 
