Tag Archives: codere

Codere appoints PKF Attest to audit 2023 accounts

SBC News Codere appoints PKF Attest to audit 2023 accounts

Grupo Codere SA has appointed PKF Attest to serve as the principal auditor of the gambling group in the Spanish and South American markets. The Spanish unit of PKF Attest will replace EY, which in 2023 severed ties with Codere, ending its seven-year tenure as an independent auditor, having overseen audits on consecutive debt refinances needed to maintain Codere’s embattled …

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Codere recruits Agustin Gonzalez to lead digitisation projects

Codere Online

Grupo Codere continues its senior management reorganisation by appointing Agustin Gonzalez as new Director of Technology and Digitalisation of the Spanish and LatAm gambling group. Working directly with new Chief Executive Gonzaga Higuero, Gonzalez will spearhead the omni-channel digitisation projects for Codere across all core markets. Branded a ‘seasoned tech strategist and transformation expert’, Gonzalez joins Codere’s executive team having …

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Codere books €164m loss in horror show Q2

SBC News Codere books €164m loss in horror show Q2

Grupo Codere SA cites that its business has been negatively impacted by the “temporary closures by public authorities due to alleged noncompliance with certain regulations in both Mexico and Argentina”. Publishing its Q2 trading update, the Spanish and Latin America-focused gambling group booked a net loss of €164m due to ‘impairment provisions’ needed to consolidate its performance in Mexico and …

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Sonia Carabante hired to lead Codere commercial strategy

Sonia Carabante hired to lead Codere commercial strategy

Codere SA has made its latest senior hire, appointing Sonia Carabante as Corporate Director of Commercial Strategy and Business Projects. Carabante will report directly to Group CEO Gonzaga Higuero, and has been tasked with executing commercial and efficiency strategy projects while driving group growth. Other areas of focus include transformation as Codere continues to consolidate its international position, as well …

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Codere appoints Luis Villalba as CFO for business transformation 

SBC News Codere appoints Luis Villalba as CFO for business transformation 

Grupo Codere continues the restructuring of its executive leadership team, announcing the appointment of Luis Villalba as its new Chief Financial Officer (CFO). The appointment sees Villalba replace the incumbent CFO, Óscar Fernández de Llano, who resigned from Codere’s leadership team during H1 proceedings. A 25-year executive in financial management, Villalba joins Codere from food and olive oil exporter Deoleo …

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Codere freezes €100m liquidity raise 

Codere Online

The board of Grupo Codere has informed investors that its plans to initiate additional liquidity financing of €100m have been temporarily postponed. The decision has been approved by Codere bondholders, who in April permitted corporate governance to pursue new financing options seeking €100m to assist Codere units in overcoming short-term financial pressures due to rising operating costs. Consequently, bondholders will …

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Positive LatAm developments drive Codere’s Q1 2023 growth

map of Latin America

Grupo Codere closed Q1 2023 in a strong financial position according to the firm’s latest quarterly trading update, with Latin American markets key growth drivers.  The multinational gambling group reported an year-on-year revenue uptick of 19% to €350m (Q1 2022: €283m), with adjusted EBITDA up 20% to €65m (€52m) with a margin of 19%, one percent higher than the year …

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Codere vows to keep all units despite reorganisation  

Codere Online

Codere SA has vowed to investors that it will maintain all business units operating across seven markets within Europe and South America.  The Spanish gambling group has made its pledge having secured €100m in liquidity funding this March, guaranteed by bondholders and existing shareholders “in support of its long-term business plan”. 2022 saw a restructured Codere generate revenues of €1.3bn, …

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