Investment StrategyRegulatory uncertainty in Colombia remains a key risk, and unless the VAT is removed or modified, the company does not plan to allocate incremental investment to the market.
Regulatory RisksRegulatory uncertainty in Colombia remains a key risk, with the VAT on customer deposits materially impairing unit economics.
TaxationIn Mexico, the federal government has included in its 2026 budget an increase in the gaming tax rate from 30% to 50%, which presents a potential structural headwind.