NetEnt enters Mexican online casino market by signing an agreement with Codere
Walking its path to success, NetEnt aims to launch its products in regulated markets, even though entering these specific iGaming markets can be a true challenge. In Spain, the online casino market is regulated and NetEnt was granted local operating licenses in June 2015. Even before NetEnt was granted its casino licenses, the company signed a customer agreement with Codere in April 2015. Now again a customer agreement with Codere was signed, resulting in NetEnt taking its first step into Latin America entering the regulated the Mexico online casino market.
Online gaming market Mexico
Latin America is definitely a region on the rise when it comes to online gambling and demand for gambling services is constantly growing while countries like Colombia are now licensing and regulating domestic online casino industries.
Latin America is obviously full of exciting emerging markets, but analysts see Mexico as the most exciting of them all, even though Argentina has the largest number of registered online gambling and betting websites in Latin America.
In Mexico, online gambling is permitted only under special license. It is expected that the number of online gamblers in Mexico will increase by 118 percent by 2018, with an estimated 18 million domestic participants. Most likely because of the country’s middle class growing with the Mexican people having more money to wager at online casinos.
NetEnt enters Mexican online casino market
Today, the majority of NetEnt’s customers are located in Europe resulting in NetEnt having a focus on the European online gambling market. Deregulation and reregulation of national gaming laws are taking place in many European countries, making this market the largest at this very moment. However, NetEnt closely monitors the development on all online gambling markets that are undergoing regulation such as the United States, countries in Latin America, as well as in Asia. These markets have great potential, and it was earlier today that NetEnt announced it has taken its first step into Latin America by signing an agreement with its existing customer Codere to enter the regulated Mexican online casino market.
Codere is an existing customer of NetEnt and has a significant presence in the traditional land-based casino markets in Spain, Italy, and in Latin America. With Codere being one of the largest casino operators in Mexico, it seems like a logical step for NetEnt to go for another contract with the Spanish multinational company. Codere has an operator license for both land-based and online casino operations in Mexico and thanks to a second contract between the two countries, NetEnt will be able to provide its portfolio offerings to Codere through Codere’s existing operator license.
”I am really excited to enter the regulated online casino market in Mexico together with Codere. This is our first market entry in Latin America and marks another milestone as we follow our long-term strategy to enter and grow in new regulated markets. I’m convinced that we can support Codere’s online casino growth and that players in Mexico will enjoy our world-class thrilling games”, says Björn Krantz, Managing Director of NetEnt Americas LLC.