Embattled Spanish gambling group Codere SA is reported to be reviewing its financial structures, seeking to increase its operating presence within Malta, as corporate governance moves to lessen the firm’s fiscal liabilities. The Bolsa-Madrid enterprise seeks to replicate the operating structure of many European gambling counterparts, maintaining its management headquarters in Madrid, whilst migrating certain operational departments to Malta. At …
Read More »Tag Archives: madrid
Winning Post: Changing perceptions of animal betting sports
Regulus Partners, the strategic consultancy focused on international gambling and related industries, takes a look at some key developments for the gambling industry in its ‘Winning Post’ column. US: Florida greyhounds – dog days are over Florida, home to the oldest continually operated dog track in the world (and one of the largest) has banned wagering on greyhound races in …
Read More »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 …
Read More »La Liga & DGOJ collaboration strengthens Spanish football against corruption
Working alongside Spanish gambling regulator DGOJ, La Liga’s integrity unit has reported 39 suspicious betting alerts during the 2017/18 Spanish football season, which resulted in nine criminal court cases prosecuting match-fixing offences. This week, La Liga and DGOJ officials presented Spanish media, with the results of their working collaboration on maintaining Spanish football’s integrity against corruption and match-fixing. For season …
Read More »Codere hurt by Argentine Peso collapse
The plunging Argentine Peso has impacted the performance of Bolsa Madrid gambling firm Grupo Codere, which has reported exchange rate losses of €22.5 million, publishing its 2018 interim results (period ending 30 June). Updating investors, Codere governance details that corporate performance has had to adjust to Argentina’s ongoing monetary crisis, which has seen the ARG Peso decline almost 50% against …
Read More »Codere seeks to refresh Madrid arcade scene with BetSlotS joint-venture
Spanish gambling operator Grupo Codere has entered a strategic joint-venture with independent arcade operator Grupo Henares, to launch new gaming hall enterprise ‘BetSlotS’. The joint-venture partnership will see Codere launch eleven new Madrid-based gaming halls operated by Grupo Henares. Launching the enterprise within Madrid’s community, Codere and Grupo Henares detailed that the BetSlotS joint-venture would target a new/fresh clientele to …
Read More »Organic Cirsa fails to escape LATAM currency woes
Presenting its final trading update as an independent enterprise, Spanish gambling operator Grupo Cirsa SA reports progress on its home and LATAM expansion projects, despite its corporate performance being hindered by severe LATAM currency impacts. Reporting strong growth across its Spanish home market properties (Spanish EBIT up 10%), Cirsa reports combined group revenues of €4.17 billion. Nevertheless, Spanish growth could …
Read More »Codere appoints Moshe Edree to lead its global digital vision
Bolsa Madrid, Spanish gambling operator Grupo Codere has confirmed the appointment of Moshe Edree as Chief Operations Officer (COO) for its Digital Gaming division. A 15-year gambling technology executive, Edree will be tasked with developing Codere’s digital vision, as the gambling group seeks to further expand within Spain and build-out its initial digital properties for the markets of Mexico and …
Read More »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 …
Read More »Sampedro family fails to overturn Codere’s new leadership appointments
Madrid’s Commercial Court has rejected the appeal put forward by the Sampedro family, seeking to overturn the appointment of a new executive leadership team at Grupo Codere. The appeal was sanctioned by former Codere CEO & Co-Founder José Antonio Martínez Sampedro, who was accompanied by Luis Javier Martínez Sampedro (former GM of Codere Americas) in seeking to annul the decision …
Read More »