Spanish business news source OK Diario has reported that US multi-national private equity firm Blackstone is preparing a bid for Grupo Codere, Spain’s largest gambling operator. The private equity firm, seeks to create the world’s leading Spanish-language gambling/betting group, merging its recently acquired Grupo CIRSA asset with Codere’s enterprise. In its report, OK Diario details that Blackstone executives have turned …
Read More »
Steep South American currency declines against the US dollar, having impacted Bolsa Madrid gambling firm Grupo Codere’s Q1 2018 performance. Publishing its Q1 2018 trading update (period ending 31 March), Codere reveals a corporate revenue and earnings decline, despite growth in its home market of Spain. Group operating revenues, declined by 5.5% to €383 million (Q1 2017: €405 million), as …
Read More »
Spanish gambling operator Grupo Codere has confirmed the appointment of Juan Bautista Ordóñez as its first Argentina Chief Executive Officer. A seasoned South American commercial executive, Bautista Ordóñez joins Codere’s executive team from Canadian multi-national mining firm Barrick Gold Corporation, where he formerly served as Managing Director of Argentina. Taking leadership of ‘Codere Argentina’, Bautista Ordóñez will be tasked with …
Read More »
Spanish gambling operator Grupo Codere has published its 2017 full-year results, reporting metric growth across its group assets and KPIs. The refinanced Spanish legacy gambling operator, reports a 6% increase in corporate revenues to €1.6 billion (FY 2016: €1.55 billion). Operating under its restructured corporate recovery plan, Codere reports a 2017 group EBITDA of €246 million, up 26% on corresponding …
Read More »
Spanish gambling firm, Grupo Codere has announced that it has surpassed +2,500 betting points operating within its home market of Spain. During the first two months of 2018, Codere has strategically expanded its retail presence in the regions of Andalucía and the Balearic Islands. The Balearic and Andalusian expansions support Codere’s 2017 dedicated betting shop openings in Madrid and Castilla …
Read More »
Spanish gambling operator Grupo Codere begins 2018 by undertaking a leadership and governance restructure. Updating the market, Codere confirmed the appointment of Vicente Di Loreto as new Group Chief Executive, replacing current incumbent José Antonio Martínez Sampedro as the company leader. Di Loreto the former COO of Codere Latin America (2005-2010) will be supported by new Executive Chairman Norman Sorensen …
Read More »
Spanish gambling operator Grupo Codere will expand its South American market presence, confirming the launch of its new Colombian online sports betting property Codere.com.co. Codere becomes the fifth operator to secure a new online gambling license by Colombia’s regulatory body Colijuegos. The group further becomes, only the second international operator to enter Colombia’s new regulated market, following Gaming1’s October approval …
Read More »
Refinanced Spanish gambling firm Grupo Codere continues its strong corporate recovery, as the company reports KPI and metric growth for its Q3 2017 trading update (period ending 30 September). Primarily driven by growth in its Spanish and Mexican divisions, Codere would record Q3 2017 group operating profits of €401 million up 3% on corresponding 2016’s €390 million. Despite facing adverse currency …
Read More »
Updating the market, Spanish gambling operator Grupo Codere (Codere) has confirmed the executive appointment of Oscar Iglesias as its new Director of Group Corporate Development. The restructured gambling firm has established a new corporate development unit, which will be led by Iglesias in order to assist ongoing corporate growth projects combined with Codere’s aggressive international expansion strategy. Reporting directly to …
Read More »
Presenting its H1 2017 interim results, restructured Spanish gambling operator Grupo Codere has detailed a solid corporate performance driven by the growth of its South American assets. The Spanish operator would report a 7% gain in H1 2017 group revenues to €814 million (H1 2016: €760 million) reporting strong revenue gains within the markets of Argentina (€300 million) and Mexico …
Read More »
SBC News Voice of the Sports Betting Industry