Grupo Ollamani, owner of the PlayCity casino chain, racked up cumulative operating losses of 967.8 million pesos from its “FIFA Operations”, the five 2026 World Cup matches played at Estadio Banorte, formerly Estadio Azteca, according to its third-quarter filing with the Mexican Stock Exchange (ticker AGUILAS) as reported by Expansión. For July–September, the company posted a consolidated net loss of 383.4 million pesos.

The hit comes from the stadium, not gaming: PlayCity had no part in those operations, but it shares an owner with the venue and Club América.

The World Cup numbers

Of the total loss, 557.2 million came in April–June and 410.6 million in July–September, when the fifth and final match was played. Third-quarter tournament revenue was 287.8 million, from stadium rental, hospitality, and food and drink. Across both quarters, costs reached 2,677.5 million against revenue of 1,709.7 million.

Excluding those costs, the regular football business made an operating profit of 73.1 million in the quarter. Ollamani describes the costs as one-off and temporary.

With its second-quarter report, the company had projected a further 255.9 million hit for July–September, for a total of roughly 813.1 million, according to Expansión, which also reported a second-quarter net loss of 548.2 million. The actual hit was 410.6 million, about 155 million above guidance, by iGaming.mx’s calculation from figures reported by Expansión.

Private boxes were a major cost driver: 777 of the stadium’s 927 boxes are privately held on 99-year contracts. Subsidiary Fútbol del Distrito Federal agreed to pay US$62.4 million to buy and assign those tickets, and hospitality sales did not cover it. Another subsidiary, HC2026, covered production, transport, security and operating costs, including the Mexico City FIFA Fan Festival.

iGaming.mx was unable to review the BMV filing directly, so these figures have not been checked against the document.

Banorte debt

Ollamani has credit lines with Banorte of up to 2,100 million pesos. At the end of 2025, 1,672 million was outstanding, with semiannual principal repayments starting 1 February 2027.

PlayCity, the top revenue earner

According to the 2025 Annual Report, the gaming segment runs 17 casinos in 12 states, with more than 5,800 machines and about 3.5 million visits a year, aimed at higher-income customers. In 2025 it generated 3,103.2 million pesos, 49.1% of group revenue. Segment profit fell to 632.3 million from 674.6 million.

About 95% of that revenue comes from land-based casinos and 5% from online, which ended 2025 with 19,942 active accounts, up 35%.

PlayCity’s third-quarter 2026 results were not available at the time of writing.

What it means for operators and affiliates

The World Cup losses say nothing about PlayCity’s performance. Until the gaming segment’s quarterly figures are known, there is no basis for talking about weakness at its casinos.

What does change is the group context. With recent losses and debt repayments starting in February 2027, cash flow from PlayCity, already close to half of revenue, becomes more important to Ollamani. That is our reading, not something the company has said.

For affiliates, PlayCity’s online channel remains small next to its casino floors, though it is growing.

On the regulatory side, PlayCity’s federal permits expire in 2030, and Ollamani’s annual report warns of more inspections, fines and tax assessments, an environment other operators can use as a reference point.

The next figure to watch is the gaming segment breakdown in the quarterly report.

This article is based on public information available at the time of publication. We try to verify the facts, but figures and details may contain errors or change, and iGaming.mx accepts no responsibility for their accuracy. It is not legal, tax or financial advice. Spotted a mistake? Email us.