Mexico's Tax Authority Auctions Codere's Hipódromo and 65 Casinos

The Servicio de Administración Tributaria (SAT) will hold a public auction to sell 82.6% of the shares of Impulsora de Centros de Entretenimiento de las Américas (ICELA), the company that controls the Hipódromo de las Américas, along with the operating permit for 65 casinos. The auction aims to recover tax debts owed by the Spanish gambling group Codere, which owns 84.8% of ICELA, with the remaining stake held by Corporación Interamericana de Entretenimiento (CIE).

The bidding opens on 11 August and closes on 18 August. The total value of the shares to be sold is about 1.168 trillion Mexican pesos, with minimum participation bids totaling roughly 800 million pesos. The largest block, 50.8% of Codere’s shares, is valued at 625 million pesos, requiring a minimum bid of 417 million pesos. The Supreme Court has confirmed tax credits against Codere amounting to 1.779 trillion pesos, plus additional federal and state tax claims.