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 »Tag Archives: Norman Sorensen Valdez
Codere returns to profit as new leadership plans for 2018 upgrades
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 »New Codere leaders quash Cirsa merger speculation
The new executive leadership team of Spanish gambling firm Grupo Codere has dismissed reports that the company is seeking to merge with main Spanish market rival Grupo Cirsa. This January, Codere announced the appointments of Vicente Di Loreto as Group CEO, supported by Norman Sorensen Valdez as Executive Chairman. The new leadership team is supported by Codere’s debt-controlling private equity …
Read More »