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Casino Initiative Gains in Mexico

A group of 13 federal deputies from the National Action Party (PAN) surprisingly backed a legislative initiative urging the authorization of casinos in Mexico.  Prior to the vote 221 deputies of the PRI, PRD, PVEM and PT were in favor of the bill, however when the vote was taken yesterday the count rose to 267 of the 500 legislators in the Chamber of Deputies.

The bill has been marked-up to the governance committees of the Chamber.  As such, spokespersons for the Secretariat of Tourism voiced their optimism that the law will be approved before the end of the year.  (Congress met from March 15 to the end of April, with the next regular session to begin on September 1.)

Carlos Mora, vice president of the Confederation of National Chambers of Commerce, gave the deputies credit ‘for manifesting a responsible and committed consensus with their nation by sending the amended Federal Gambling and Raffles Law to the congress as a whole.’

Rafael de Jesús Saavedra Alvarez, president of the National Chamber of the Restaurant and Food Condiments Industry, said he believes that a consensus exists between federal authorities and the private sector that will bring about approval of casino operations in Mexico.

(In a report on the possibility of future investments in Mexico by the Spanish gaming group Codere — ‘that will invest US$250 million this year to increase its gaming operations in Latin America’ — in a partnership with Mexico’s sportsbooks operator CIE, analysts with the IXE brokerage firm said the relationship would be expanded to include casinos.)

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