You’re hired! Regulation boosts Brazil’s job market
Brazil jobs, Caixa lottery, Mexican footballer arrest, Enjoy restructuring +Más
Brazil: hiring in the gambling sector grows by over a third.
In +More: Codere Online Q1 earnings.
Brazil’s Caixa Lottery revenues rise 22% in Q1 to $1.2bn.
Mexican footballer arrested for match-fixing in Australia.
Chile: Enjoy presents restructuring proposal to its creditors.
22 grand job, in the city it's alright.
Brazil is hiring
Gizza job, I can do that: Hiring in the betting and gaming sector in Brazil grew by 37% at the end of April compared to the same period in 2023, a report by Michael Page has revealed. According to the recruitment agency, the regulation of sports betting, approved last December, generated a significant number of job opportunities.
By implementing sports-betting regulations, the legislature sought to provide legal certainty to the sector, combat illegality and boost tax collection.
Vote of confidence: “With regulation, the sports-betting companies gained legal certainty, which generated confidence to invest and structure their operations in the country,” said Lucas Papa, executive manager at Michael Page.
He added that companies were prioritizing the hiring of professionals with leadership profiles and experience in operations management, mainly in the areas of finance, marketing and compliance.
According to the agency, the monthly remuneration for positions such as CMO, CFO and legal or compliance director start at $3,900 and can reach up to $8,800.
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+Más
Going loco down in Acapulco: Codere Online saw total revenues in Q124 of €50.4m ($54.7m), while net gaming revenues came in at €53m, 34% above the same period in 2023. Mexico accounted for nearly half of total revenues, at €23.8m, while net gaming revenues were €26.6m, 51% more than Q123.
Net profit was €3.4m compared to a net loss of €1.3m in the same quarter last year.
The company increased its net gaming revenues forecast for FY24 to €195m-€210m and reiterated its aim to be adj. EBITDA and cash flow positive for the full year.
Codere Online also expects to start operations in the province of Mendoza, Argentina – a market of 2m people – in the coming weeks.
Brazil: The Brazilian Chamber of Deputies has held a public hearing to discuss the social inclusion of children and adolescents in vulnerable situations in sports through electronic games.
The Association of State Lotteries of Argentina (ALEA) has appointed Dr Ida López, head of the Provincial Institute of Games and Casinos of Mendoza, as its president. This is the first time in the ALEA’s 54-year history that a woman has assumed the role.
The Chilean Justice is to reopen its criminal investigation into online betting platforms. The process will see it summon former footballers, sports club directors and journalists for their alleged commercial ties with sports-betting operators.
Caixa Lottery revenues
All the things I could do: Caixa Lottery collected $1.2bn in Q124, 22% more than in the same period last year, while the total net prizes awarded during the period hit $390m.
Of the amount collected, $470m (39%) was allocated to the federal government's social programs, including social security, public safety, culture, sports, education and health.
This amount is almost 20% higher than the funds allocated in Q123.
The entity recorded net profits of $568m during the period, 49% more than the same period last year.
Mexican footballer arrest
Kangaroo caught: Mexican footballer Ulises Dávila has been arrested by New South Wales police in Australia for his alleged involvement in match-fixing. Attacking midfielder Dávila – who signed for Chelsea in 2011, although he never made an appearance for the English Premier League club – plays in the Australian A-League for Macarthur, where he is also captain.
And it was all yellow: According to the police, a person from South America instructed the former Mexico international to organise for yellow cards to occur at certain times in A-League matches.
The alleged infringements occurred between November 24 and December 9 of last year.
Dávila was booked during Macarthur’s match against Melbourne Victory on November 24 and he received another yellow card during his team’s match against Sydney on December 9.
Other attempts – although unsuccessful – to supposedly control the number of cards issued during matches took place between April 20 and May 4 this year.
Strewth: Dávila is to be charged with two counts of participating in match-fixing bets and two counts of facilitating said fixing.
According to Australian and Asian media, two other Macarthur players – Clayton Lewis and Kearyn Baccus – were also arrested on similar charges.
Enjoy restructuring
If you rebuild it, they will come: Last Friday Enjoy presented a restructuring proposal to its creditors, through a document submitted to the 8th Civil Court of Santiago, within the framework of the judicial reorganization process that began in January.
According to the company, via a note sent to the Financial Market Commission (CMF), the document will be submitted to a vote by the creditors 30 days after its presentation (on June 18).
The note indicated that the proposal aims to “ensure the operational continuity of Enjoy.”
“The plan considers the restructuring of obligations, the sale of operations and the raising of new resources to finance short-term operations,” said the company’s new president, Jaime Maluk.
“What we propose seeks to responsibly sustain our commitments to suppliers, customers, shareholders and communities in which we are present, as well as to our 5,300 workers.”
Sell me this pen: Regarding the company’s strategy to sell some assets, CEO Esteban Rigo-Righi stated that “progress continues on this path. As we have reported there is interest from various operators and investors who have already visited our properties, from which we expect to receive binding offers.”
Calendar
June 11-13: Peru Gaming Show 2024, Lima
Publication schedule
This is the English version of the LosIngresos+Mas newsletter published yesterday (May 22).
An +More Media publication.
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