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Codere’s Landmark Legal Triumph: Potentially Dodging a $70M Tax Bill in Mexico

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Captivating Breakthrough: Codere’s Unprecedented Legal Feat

In a groundbreaking development, the renowned gambling conglomerate Codere stands on the cusp of a major legal victory. This triumph could liberate them from a staggering $70 million tax obligation, a burden lingering for over a decade. As the Mexican Supreme Court leans towards favoring Codere, the financial and legal realms keenly observe, marking this as a pivotal moment in corporate taxation history.

The Legal Labyrinth: A Decade-Long Dispute Unravels

For over 15 years, Codere has been ensnared in a complex legal battle with Mexico’s Ministry of Finance. The dispute centers on a hefty sum exceeding MXN 1.2 billion, roughly translating to over $70 million. This sum includes taxes, penalties, and other fiscal responsibilities for 2008. The Supreme Court’s recent stance offers a glimmer of hope to Codere, potentially absolving them from these financial shackles.

Codere’s Relentless Legal Strategy: Challenging Constitutional Grounds

The company’s journey through the legal maze was arduous. After losing an initial lawsuit and an amparo (a form of legal protection in Mexico) against the Federal Court of Administrative Justice, Codere escalated its fight to Mexico’s highest court. Their aim was audacious: to challenge the constitutionality of a specific section in the Federal Law of Administrative Procedure. Success in this endeavor could exempt them from the monumental tax demand by the SHCP, as per reports from La Jornada.

A Turn of Events: Supreme Court Sways in Codere’s Favor

Recently, the tide turned. Justices Luis María Aguilar Morales, Alberto Pérez Dayán, and Javier Laynez Potisek voted against the appeal filed by SHCP. In contrast, their colleagues, Yasmín Esquivel Mossa and Lenia Batres Guadarrama, argued for dismissing the review requested by Codere based on jurisprudential criteria. The deciding factor now rests with Minister Juan Luis González Alcántara, who will draft a ruling pivotal to Codere’s financial fate.

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SAT’s Involvement and Codere’s Persistent Legal Battle

The Tax Administration Service (SAT) initially determined Codere had a tax credit of MXN 561 million. Despite winning a nullification in the first trial, SAT’s reinstated audit swelled Codere’s tax credit to over MXN 1.2 billion. Codere’s persistent legal challenges against these rulings reflect their determination to overturn what they deem unjust taxation, leading up to the current climactic stage of their legal journey.

Conclusion: A Defining Moment in Tax Law and Corporate Responsibility

As Codere awaits the final verdict from Minister González Alcántara, their case stands as a defining moment in tax law and corporate responsibility. This legal saga, stretching across multiple courts and years, not only impacts Codere but also sets a precedent for the gambling industry and multinational corporations operating under complex tax legislations.

Jerome, a valuable addition to the Gamingo.News team, brings with him extensive journalistic experience in the iGaming sector. His interest in the industry was sparked during his college years when he participated in local poker tournaments, eventually leading to his exposure to the burgeoning world of online poker and casino rooms. Jerome now utilizes his accumulated knowledge to fuel his passion for journalism, providing the team with the latest online scoops.

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Latam & Carribean

Endorphina Ventures into Peru’s Thriving iGaming Market

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Endorphina Expands into Peru’s iGaming Sector with Innovative Portfolio

As a seasoned gambling professional, staying attuned to industry advancements is crucial for identifying emerging opportunities. Endorphina, renowned for its innovative approach to online gaming and acclaimed titles like Oriental Dragon and Valentine’s Heart, is making headlines once again. The company has set its sights on Peru, a burgeoning hub in the Latin American iGaming landscape. In this comprehensive analysis, we delve into Endorphina’s strategic foray into Peru’s thriving iGaming market, exploring the implications for both the company and the regional gaming ecosystem.

Endorphina’s recent breakthrough in Peru marks a significant milestone in its global expansion strategy. As a fully regulated supplier in Peru, the company is poised to introduce its diverse portfolio of over a hundred games to local operators. With a focus on establishing swift partnerships with licensed online operators, Endorphina aims to expedite the deployment of its cutting-edge gaming content in the Peruvian market. This strategic move not only underscores the company’s commitment to innovation but also highlights its ambition to gain a stronghold in Latin America’s burgeoning iGaming sector.

“Commencing 2024 with vigor, Endorphina is thrilled to announce its authorisation as one of the premier slot game developers to enter Peru’s newly regulated market,” affirmed the company in a recent press release. This announcement comes hot on the heels of Endorphina’s successful partnership with Platincasino.es in Spain, showcasing the company’s momentum in expanding its global footprint.

February has proven to be a month of significant milestones for Endorphina. The launch of Book of Conquistador, a captivating 10-payline slot game, has captured the attention of players worldwide, further bolstering the company’s diverse game portfolio. Additionally, Endorphina’s recent collaboration with Casino777 underscores its strategic development initiatives and sets the stage for continued growth throughout the year.

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While Endorphina has yet to disclose the identities of its local operator partners in Peru, anticipation mounts for imminent announcements. As the company navigates this new frontier, its pioneering spirit and unwavering commitment to excellence are poised to reshape Peru’s iGaming landscape, offering players an unparalleled gaming experience and setting new benchmarks for industry innovation.

Endorphina’s entry into Peru heralds a new era of possibilities for the country’s burgeoning iGaming sector. With its innovative game offerings and steadfast dedication to quality, Endorphina is primed to leave an indelible mark on Peru’s iGaming landscape, paving the way for enhanced player engagement, operator success, and sustainable industry growth.


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