Playtech To Expand Into Mexico
Online gaming software developer, Playtech, is positioning itself to expand its market penetration into Mexico. The company has partnered with local operator Corporacion Caliente who they will work with to place self-service betting terminals from Playtech throughout the country.
Gambling is a popular pastime in Mexico but there are restrictions in place that make the gaming experience quite different than in other parts of the world. But as the country's economy continues to improve more Mexicans possess the disposable income to patronize gambling establishments and the country now has the second largest market for gaming in Latin America.
The act of gambling was prohibited in Mexico until recent years and in 2004 laws were written to allow citizens of the country to legally enjoy games of chance. The result of these legislative changes has been an influx of foreign investment from online casinos and betting sites taking place in the country.
Prospective casino owners must pass a stringent application process in order to be granted permission to operate a licensed and regulated casino in Mexico. The majority of casinos in the country are privately owned and rival many of the best offerings available to players in other countries.
Supporters of the gambling community in Mexico are calling for even more relaxed controls on gambling to be established including the allowances for online casino play and online sports betting. Mexican citizens that take part in these endeavors now through operators in other countries are putting themselves at risk due to the fact that no consumer protections are available to them. It is expected that the calls for further legalization of legalized gambling activities in the country will be answered soon.
The agreement between Playtech and Corporacion Caliente has Playtech perfectly positioned to fully capitalize on an already lucrative market when online gambling is legalized in Mexico. As of now, the company will reap the benefits of having their self-service betting terminals introduced to the Mexican public.
Playtech and Corporacion Caliente did business before in 2014 when Playtech made a loan of some casino systems to the Mexican operator. The new agreement is a step forward for the partnership and is expected to expand over time. Victor De La Fuente, the business development director for Corporacion, explains that the strategic partnership is an exciting development for his country as the company looks to enhance the experience offered to patrons of their casinos.
Corporacion Caliente is a subsidiary of the Spanish Codere which has reached a similar partnership with NetEnt a year ago. It is an apparent company goal of Codere to increase its own market share in Mexico by partnering with top software developers in the gaming industry.
Playtech began as a company in 1999 and is presently a top provider of gambling software in the world. The company is listed with the London Stock Exchange and its self-service terminals are enjoyed by gamblers in many countries.
The company is extremely satisfied with the opportunity to penetrate the Mexican market in its early stages and is set to continue company expansion throughout Europe and Latin America.