Tag Archives: argentina

Intralot SPA has achieved its corporate objective of reducing its gross debt below €500m, despite witnessing a slowdown in its B2C performance. Publishing its full-year 2023 accounts, the Athens-listed gambling and lottery technology group reported revenues of €364m, a 7.3% decline from FY2022 results of €398m. The decline in headline revenues is attributed to the discontinuation of its Malta Lottery …

The board of Grupo Codere SA states that it is in “advanced negotiations” with existing bondholders to proceed with a “global recapitalization” of the Spanish and LatAm gambling group. Codere confirmed that it had recruited investment bank Houlihan Lokey and law firm Allen & Overy as advisers for its intended recapitalisation program aimed at improving its capital structure and fostering …

The Executive of the City of Buenos Aires has announced the appointment of Jesús Acevedo as the new President of the Lotería de la Ciudad de Buenos Aires (LOTBA). The appointment was sanctioned by Jorge Macri, the City Governor of Buenos Aires, who confirmed that Acevedo will succeed Martín García Santillán as President of LOTBA. Acevedo has previously served as …

Grupo Codere SA has appointed PKF Attest to serve as the principal auditor of the gambling group in the Spanish and South American markets. The Spanish unit of PKF Attest will replace EY, which in 2023 severed ties with Codere, ending its seven-year tenure as an independent auditor, having overseen audits on consecutive debt refinances needed to maintain Codere’s embattled …

VBET has formed a regional partnership with Argentina National Team through a deal with the Argentina Football Association (AFA). Extending across marketing and branding initiatives, the pair have outlined how the three-year alliance is poised to ‘redefine the sports and betting landscape’, as well as ‘usher in a new era of unparalleled engagement’. Aragats Asatryan, VBET CEO, said: “This partnership …

The Executive of the Province of Buenos Aires seeks a new President to lead the Provincial Institute of Lotteries and Casinos of Buenos Aires (IPLyC). The update follows the resignation of incumbent Omar Galdurralde, who has chosen to stand down from the office of Axel Kicillof, the Governor of BA Province for Partido Justicialista Following November’s national and provincial elections, …

Intralot SPA maintains a stable outlook for year-trading, despite the Athens-listed technology group reporting continued revenue declines impacting its commercial performance. Publishing its latest year-to-date (YTD) report, Intralot corporate revenues stand at €280m, down 7% on 2022 comparatives of €301m. The decline in YTD headline revenues reflects the absence of discontinued Malta lottery (B2C) revenues, accounting for a decrease of …

This November, Better Collective executed its second biggest M&A acquiring Playmaker Capital for €196m, a deal which significantly amplifies its media network for sports audiences across South American markets. Simon Hovmand-Stilling, Better Collective CEO of South America, tells SBC of the active commercial opportunities on-boarded by the Playmaker acquisition and how Better Collective will apply its most diverse and localised …

Grupo Codere continues its senior management reorganisation by appointing Agustin Gonzalez as new Director of Technology and Digitalisation of the Spanish and LatAm gambling group. Working directly with new Chief Executive Gonzaga Higuero, Gonzalez will spearhead the omni-channel digitisation projects for Codere across all core markets. Branded a ‘seasoned tech strategist and transformation expert’, Gonzalez joins Codere’s executive team having …

Grupo Codere SA cites that its business has been negatively impacted by the “temporary closures by public authorities due to alleged noncompliance with certain regulations in both Mexico and Argentina”. Publishing its Q2 trading update, the Spanish and Latin America-focused gambling group booked a net loss of €164m due to ‘impairment provisions’ needed to consolidate its performance in Mexico and …