Tag Archives: Codere SA

Codere secures €36m credit line to fund Mexican outlook

A filing placed with Spain’s CNMV capital markets commission has revealed that Codere SA has secured terms on two corporate credit lines, obtaining approximately €36 million in working capital to help the Bolsa Madrid gambling group maintain its Mexico and Uruguay business subsidiaries. The transaction sees Codere governance expand the volume of its existing €90 million revolving credit facility, of …

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LatAm foul play adds €15m losses to Codere 2019 accounts

Commissioned by Codere SA governance, ‘Big 4’ accountancy EY has confirmed a total impact of €15 million losses attributed as ‘intentional LatAm inconsistencies’ which will be accounted for in the Bolsa Madrid gambling group’s full-year 2019 results. October trading saw Codere declare to Spain’s CNMV markets authority that year-to-date accounts had been overstated by a reported €13-20 million attached to …

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Codere appoints ‘transformation pro’ Luis Sanchez Serrano to lead digitisation strategy

Bolsa Madrid gambling group Codere SA has confirmed the appointment of Luis Sanchez Serrano as new Corporate Director for Technology and Digitisation. A fresh face to the gambling sector, Sanchez Serrano is a 23-year veteran of the Spanish financial services industry, having led technology and innovation divisions for Liberbank, Bankinter and Banco Espirito Santo Portugal. Moving forward the executive will …

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Martinez Sampedro family seeks highest fee for Codere exit

The boardroom dispute impacting the future of Bolsa Madrid gambling group Codere SA has intensified as the enterprise founding  Martinez Sampedro family places a Spanish Capital Markets Commission (CNMV) claim against US investor Silver Point Capital. The two-year dispute takes a further turn, on a matter which an embattled Codere governance outlined would be resolved at the firm’s ‘critical AGM’ scheduled …

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Codere ups racing muscle with SIS content partnership

Bolsa Madrid operator Grupo Codere SA has moved to enhance its live racing content across its Spanish and Mexican digital properties, integrating Sports Information Services SIS new 24/7 Live Betting Channel. SIS informs that its new live pictures partnership will see Codere ESP and MX digital domains gain horseracing and greyhound content throughout the day. Peter Lucas, Sportsbook Trading Director …

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Codere seeks to end Sampedro drama at ‘critical AGM’

Bolsa Madrid gambling firm Grupo Codere SA is set to host a ‘critical showdown’ at its annual general meeting set for Monday 26 July, as corporate stakeholders seek to settle the governance dispute between US debt holders and the enterprise founding Martínez Sampedro family. Spanish business news sources report, that Codere investors will seek to remove Martínez Sampedro board representatives’ …

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Codere refreshes legacy brand to reflect new global identity

Spanish legacy gambling operator Grupo Codere SA has rebranded its entire corporate identity, seeking to reflect the firm’s ongoing transition as a global gambling enterprise. Last week, Group Chief Executive Vicente Di Loreto presented Codere’s new corporate logo and tagline ‘Contigo Cambiamos el Juego’ – ‘We Change the Game with You’. Updating stakeholders and the media, Di Loreto detailed that an …

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Codere backs business plan despite 2018 dramas

Embattled Bolsa Madrid gambling firm Grupo Codere SA closes its full-year 2018 accounts reporting group-wide losses of €40 million, primarily attributed to significant Argentine market adjustments. Reported throughout 2018, Codere has been forced to navigate the +100% collapse of the Argentine Peso against the Euro, with the gambling group detailing FX losses of circa €34 million. In its Argentina market …

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The Sampedro Family launches US appeal against governance dismissal

Spanish business news sources report that the Sampedro Family, the enterprise founders of Grupo Codere have filed a US lawsuit against the firm’s private equity debt-holders, claiming unfair dismissal and non-representation from the firm’s corporate governance structures. The filing is led by former Codere President Jose Antonio Martinez Sampedro and brother Luis Javier (former Vice President), seeking to annul Codere …

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Codere celebrates decade as a Spanish bookmaker

Bolsa Madrid-listed gambling firm Grupo Codere SA is celebrating its tenth-year as a Spanish market bookmaker. The Spanish legacy gambling firm, took its first sports betting wager on 16 April 2008, placed through a betting point installed within its ‘Bingo Canoe’ Madrid property. Codere, whose initial enterprise services related to bingo and arcade halls, has to date expanded its venue footprint …

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