TV Azteca subsidiaries file for bankruptcy protection

Five subsidiaries of TV Azteca, including the online casino operator Ganador Azteca, have filed for voluntary bankruptcy protection (concurso mercantil) due to insolvency issues. The companies involved are Ganador Azteca SAPI, Operadora Ganador TV Azteca, Servicios y Mantenimiento del Futuro en Televisión, Lasimex, and Inmobiliaria Roca del Pedregal.

Following a declaration of incompetence by Judge Ruth Huerta, the cases have been transferred to Judge Tessy del Rocío Covarrubias. Judge Covarrubias has been overseeing the bankruptcy proceedings for the parent company, TV Azteca SAB, which faces debts totaling approximately 24 billion pesos.

This filing marks the first time an online casino permit holder has sought bankruptcy protection since 2010. The legal process carries significant risks for Ganador Azteca, as regulations under the Federal Law of Games and Raffles state that permits may be extinguished for companies declared in bankruptcy, pending a formal insolvency ruling. Additionally, the company has been involved in a legal dispute with the Ministry of the Interior (Secretaría de Gobernación) regarding the suspension of its permits to operate platforms such as Bet365 and Betano.