Tag Archives: codere

Codere H1 dragged by continued global pandemic headwinds

Codere SA continues to mitigate the impact of COVID-19 pandemic restrictions on its business lines, as the Bolsa Madrid group prepares to divest its Codere online subsidiary. Publishing its results for the first half of 2021, following approval from its board of directors, Codere revealed the company turned over €266m, a 16 per cent decrease compared to the previous year. …

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Codere files Nasdaq listing plan for online business

The board of Codere SA has filed an F-4 ‘preliminary registration statement’ with the US Securities and Exchange Commission (SEC) putting forward its prospectus to list its ‘Codere Online’ business on the US Nasdaq.  The registration sees Codere advance its plans to divest its Codere Online unit by merging with DD3 Acquisition Corp – a SPAC led by former Goldman …

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Codere strengthens LatAm visibility with River Plate partnership

Codere has strengthened its sports marketing activities in the Latin American market following an agreement with prominent Argentinian football team Club Atlético River Plate. The four-year deal will see the sports betting operator become the official betting partner of the Primera División team, whilst also gaining visibility via shirt sleeve branding for the initial stages of the deal. Expansion of …

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RMG and SIS to distribute ‘quality core content’ to bookmakers

The Racecourse Media Group (RMG) has partnered with SIS (Sports Information Services) under the terms of a three-year agreement to distribute and transmit audio-visual and data from British racecourses. Content will be provided to retail betting operators throughout the UK and Ireland from 1 April 2023 to 31 March 2026, following on from the current five-year agreement first inked in …

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Codere spins online unit to DD3 SPAC in pursuit of $350m Nasdaq listing

Nasdaq-listed SPAC DD3 Acquisition Corp has entered a definitive agreement to merge with ‘Codere Online’ – the online gambling subsidiary of embattled Spanish gambling group Codere SA.  Under DD3 ownership, Codere Online plans to gain a listing on the Nasdaq Exchange, as dealmakers target a $350 million (€290m) valuation for the online gambling unit, which will be separated from Codere’s …

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SIS expands Orenes partnership with Trading Services deal

SIS (Sports Information Services) has expanded its partnership with Orenes, providing its Versus Apuestas brand with early morning prices and derivatives for horse racing and greyhound racing content. The prices and derivatives will cover UK and Irish fixtures as well as international horse racing from North America, the Czech Republic, Dubai, Germany, Hungary and Latin America. Angel Calderon, Digital Sales …

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SIS to broadcast Hipódromo de las Américas fixtures via Codere deal

SIS to broadcast Hipódromo de las Américas fixtures via Codere deal

SIS (Sports Information Services) has built upon its Latin American offering by inking a new exclusive partnership with Codere.  Through the deal, SIS has agreed to broadcast the remaining 76 horse racing fixtures of the 2021 season from the Hipódromo de las Américas racetrack in Mexico City.  Coverage will be made available to SIS customers across the world via its …

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Codere shareholders approve liquidation terms

The board of Codere SA has been granted approval by shareholders to proceed with the ‘liquidation arrangement’ agreed last month with existing creditors.  Shareholders of the Bolsa Madrid gambling group have approved the terms of the liquidation agreement, allowing for creditors to take control of the embattled firm – the liabilities of which are reported to stand at €700 million. …

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Codere founding family demands €900m compensation from US investors 

Grupo Codere SA is caught up in a further investor dispute, after the company’s founding Martinez Sampedro family demanded that their minority shareholding be acquired by the firm’s remaining US investors. The Martinez Sampedro family have filed an appeal with Spain’s National Securities Market Commission (CNMV), urging the regulator to demand that US investors acquire the family’s 14% stake in …

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Moody’s downgrades Codere after restructuring announcement

Moody’s Investors Service has downgraded the €500 million and $300 million instrument senior secured notes of Codere SA, following a restructuring agreement reached between the Spanish operator and its creditors last week. The ratings agency has made the decision to downgrade the two aforementioned senior secured notes from Caa3 to Ca, in addition to a €250 million super senior note, …

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