Tag Archives: Vicente Di Loreto

Codere points towards stability reducing interim losses to €8.5m

Publishing its H1 2019 interim results (period ending 30 June), Bolsa Madrid-listed gambling group Codere SA improves its trading stability, reducing corporate losses by 78% to €8.5 million (H12018: -€39m). As communicated in August, the Spanish gambling group’s period performance would be impacted by Argentina’s volatile economic conditions, which sees Codere record a 6% decrease in group revenues to €712 …

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US ruling allows Martinez Sampedro family full disclosure on Codere investors

Connecticut’s District Court has granted the Martinez Sampedro family a major concession in its ongoing legal dispute against Grupo Codere SA’s US debt-holders, upholding the family’s ‘discovery demand’ against Silver Point, Contrarian and Abrahams Capital hedge funds. Securing its Connecticut demand, the Martinez Sampedro family – enterprise founders of Codere – will be able to access all information related 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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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 places responsibility at the forefront of Real Madrid renewal  

Issuing a market update, Spanish gambling firm Grupo Codere SA informs that it will continue to serve as ‘official betting partner’ of Real Madrid FC until the end of the 2020/21 European football season. Bolsa Madrid gambling group Codere has served as Real Madrid betting partner since 2016, representing Codere’s biggest marketing commitment. The Spanish betting group has previously used …

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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 reforms organisation to drive ‘global efficiencies’

The governance of Bolsa Madrid-listed Grupo Codere SA has allowed the firm’s executive team to carry out a series of organisational reforms, designed to improve and simplify Codere’s globalised day-to-day operating structures. In its update, the executive of embattled Codere, details that organisational reforms are needed to simplify the firm’s regional units, enhance commercial capacities, whilst improving corporate operating margins …

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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 …

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Codere’s 2018 opening hurt by severe South American currency declines

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 …

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Codere appoints Juan Bautista Ordóñez as Argentina lead

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 …

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