"Colombia has a very high potential in the business"

What are you presenting in this edition of FADJA?

We are presenting our brand Codere Apuestas, which is a product that we launched to the market in November last year, after obtaining the concession contract with COLJUEGOS, where we are operating through an omnichannel platform, through our website, which is www.codere.com or mobile applications, both in Android and IOS platforms, and also in terminals that we locate in physical sites as the regulations permit in Colombia.

How do you see the Colombian market with regard to the issue of sports betting?

I believe that Colombia has a very high potential in the business, firstly because it was the first country to regulate the activity of sports betting and online and omnichannel, which obviously gives us an advantage in terms of time-to-market. Secondly, there is a very large habit of consumption due to the operations that were occurring in the past, of offers in an unregulated market. In the third place, we have a huge appetite for what this business will be in relation to the Russian soccer world cup this year.

You are based on everything that is real sports. Is it like that?

We have an offer of multiple sports, depending on what is being presented in the different leagues: NBA, NFL, Jockey, Billiards, boxing, cycling, in short, although the largest participation of bets is taking place in football (with more than 50 %), and also in other sports, depending on the content that exists at the moment.

How are the concession contracts?

These are the licenses granted by COLJUEGOS to operate the business, because the owner of the gaming monopoly in Colombia is the state, which is the one that grants private parties the right to operate within this activity under certain rules.

How do you see the current edition of FADJA?

I was positively surprised by this edition in relation to the previous one, which was much smaller, with less public attendance. Maybe the place was not the right one, now going back to Corferias, which is the main venue of fairs in Colombia, in this pavilion that is big enough, I see a high presence of traditional brands of slots, of traditional casino games, and also obviously a very important presence of the brands that are in the sports betting business; those who have a concession contract and also those who do not have it but who will be in the market soon. I believe that this fair is bringing many interested in both the betting and the slots business. I believe that the market at this moment is very uncertain, due to the increases in exploitation and VAT rights; for tax issues. Last year for the variable rate. Soon there will also be a change of government, so let's say that the operators are waiting, and the political uncertainty also generates a brake on decisions in general in all industries. Also the effect that we have had in terms of raising taxes has limited our management capacity to operators, has killed our profitability. But what corresponds to us is to continue promoting the business with new business units with sports betting and continue looking for the profitability of the traditional business of casinos, bingos, tables, of the live game, which is the localized business.