Tag Archives: codere

Codere modifies high coverage AS partnership to obey Spanish advertising laws

Codere has confirmed that it has renewed its media partnership with Spanish sports daily AS (AS.com) that will see the two companies continue to develop exclusive football content, despite the Spanish government enforcing new federal restrictions on betting advertising. Working with AS, last season Codere launched its interactive football show ‘Mister Underdog’ which proved a success, securing a following of …

Read More »

LATAM woes see Codere track year losses of €240m 

Embattled Spanish gambling group Codere SA has published its Q3 2020 earnings report, revealing that its year-to-date corporate net losses currently stand at €240 million.  The Bolsa Madrid gambling firm continues to absorb COVID-19 impacts following a staggered reopening to its South American gambling venues, combined with severe LATAM currency fluctuations against the US dollar. Despite reopening its European (Spain …

Read More »

Codere appoints Rafael Catalá as legal counsel ahead of crucial family showdown

Rafael Catalá, Spain’s former justice minister, has been forced to take control of Codere SA’s legal counsel to oversee the firm’s ongoing shareholder dispute between the Martinez Sampedro family and US debt holders. Spanish business news sources report that an embattled Codere no longer maintains a functional counsel to advise its corporate governance, following the successive departures of three executives …

Read More »

Codere appoints Shackleton to lead brand overhaul for Spain and Mexico

Grupo Codere has confirmed the appointment of Shackleton as its new creative marketing agency, as the Bolsa Madrid gambling group seeks to refresh its image within its home market of Spain, whilst expanding its public profile across the firm’s target South American growth markets. Shackleton wins the multinational account following a competitive pitch undertaken by Codere during May in which …

Read More »

Mozzartbet sets sail in South America taking over Meridianbet Colombia

Mozzartbet Serbia’s leading bookmaker has entered the South American sportsbook market, acquiring the online operating unit of Meridian Gaming Colombia SAS – the Colombian market subsidiary Meridian Gaming Ltd. The acquisition forms part of Mozzartbet’s ongoing ‘internationalization strategy’ with the Serbian betting group securing direct entry within Colombia’s regulated online gambling marketplace taking over the meridianbet.com.co domain. Stating its new …

Read More »

Codere secures €250m credit lifeline on aggressive interest rates 

Embattled Spanish gambling group Codere SA has agreed terms on a new ‘refinancing proposal’ with existing bondholders, which will allow the firm to access a further €250 million credit extension.  Following weeks of negotiations, Codere has secured the vital liquidity funding to keep its Spanish and South American business units afloat. US bondholders Jupiter AM, Dryden Capital, Invesco and Blackrock …

Read More »

Codere merges Italian fruit machine units forming CODWIN

Spanish gambling group Codere SA has launched ‘CODWIN’, its new Italian market AWP games (fruit machines) distribution unit, formed by the merger of its shareholdings in subsidiaries Gap Games Italia and FG Slot. Italian industry news sources report that the launch of CODWIN, had been formally approved by Gap Games and FG Slot investors at an April shareholder meeting, allowing …

Read More »

Codere avoids total collapse with 12-month credit line 

Codere SA will escape bankruptcy after the embattled Spanish gambling group secured new terms on its debt arrangement with US debt-holders.  The Bolsa Madrid gambling group is reported to have secured a 12-month funding arrangement with a US hedge fund which will guarantee a €120-150 million credit line for the company to fund its operations and repay its deferred debt …

Read More »

Peter Nolan joins Digitain as strategic consultant

Sportsbook and casino platform provider Digitain has confirmed the appointment of Peter Nolan as its new Strategic Consultant. As part of his new role, Nolan will take responsibility for the management of media relations. He will also consult on the firm’s B2B marketing plan, as well as sales and business strategy. Commenting on his new role, Nolan said: “Digitain is …

Read More »

Codere records 10X losses seeking vital lifeline 

Embattled Codere SA has published its Q1 2020 trading statement, declaring group-wide losses of €97m as the company continues to seek vital funding for its operating units. The figure represents a 10X increase on its corresponding Q1 2019 losses of €8.6m, as Codere’s European and South American gambling venues have ceased trading due to the COVID-19 global pandemic.  The Bolsa …

Read More »