Mexican media giant to offload International Bets subsidiary

Mexican media corporate giant Grupo Televisa has reportedly again put its online and land gambling subsidiary International Bets on the sales block. The subsidiary comprises PlayCity Casino and PlayCity Apuestas, offering 17 land gaming venues along with online sports betting services powered by provider Kambi.

The reports note that Grupo Televisa is looking for around $300 million for the gambling assets as it offloads non-core interests.

Early reports on the latest sell-off initiative are that private equity group Blackstone is the most likely bidder for PlayCity, having already acquired Spain’s Cirsa Gaming group. Another likely contender is Spanish gambling group Codere, which is already active in the Mexican online sector.

PlayCity’s land operations enjoyed buoyant visitor figures in 2017, up 42 percent on the previous year.