Tag Archives: codere

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, …

A restructured Grupo Codere has announced that it has “fully consolidated its corporate recovery,” as the group’s financial results match or outperform its 2019 post-COVID performance. In its full-year 2022 trading update, the Spanish multinational gambling group reported corporate revenues of €1.31bn, reflecting a 68% growth on FY2021 results of €791m and an exact like-for-like match on FY2019 revenue performance. …

The board of Codere SA has been granted approval by bondholders to pursue a €100m liquidity injection, a transaction required for the Spanish gambling group to ‘avoid insolvency’. In March, bondholders were notified of ‘liquidity pressures’ impacting Codere’s global operations, in which the company required emergency financing in the markets of Argentina, Mexico and Panama. The funds will support Codere’s …

Grupo Codere has notified investors that it must raise €100m in capital as the heritage Spanish gambling firm “finds itself in a probable insolvency situation”.  Yesterday, Codere published an updated ‘reorganisation and refinancing plan’, outlining that a request for €100m liquidity financing to be added to the board’s ongoing ‘2023-to-2027 recovery programme’. Codere maintains that it has achieved the initial …

Codere has inked an agreement with Argentinian football team, Club Atlético Lanús, becoming an official sponsor from February onwards. The European and Latin American gaming and sports betting company’s branding is set to appear on the number of the Buenos Aires-based team’s official kit. The pair have maintained a relationship between 1999 and 2016, when Codere was for the first …

The US Securities and Exchange Commission (SEC) has been informed by Nueva Codere of a cyberattack to its subsidiary Codere Online, resulting in losses of €744,000.  The admission to the SEC outlined ‘weaknesses in internal controls’, which allowed hackers to access Codere Online’s email systems. The cyberattack saw hackers pose as ‘Codere Online agents’, who sent ‘manipulated invoices’ to various …

Spain’s Ministry of Consumer Affairs has stressed the need for tougher monitoring of online gambling, having increased year-on-year ‘sector penalties’ handed to licensed operators.  The warning follows a sector update, which revealed that during the first half of 2022, the Ministry had issued “sanctions for serious infractions” on 53 operators, with fines totalling €84.3m. Of the 53 individual penalties, the …

Nueva Codere lauds its business transformation as its European and Latin American units continue to bounce back from the pandemic, as the group recorded “a strong recovery” in its Q3 results. The bounceback, Nueva Codere explained, was largely driven by the increase in footfall across its land-based gambling venues, which had previously remained closed due to the pandemic. The company, …

SBC is excited to announce the shortlisted operators, affiliates, suppliers and leaders for this year’s SBC Awards Latinoamérica 2022 ceremony, taking place as part of SBC Summit Latinoamérica at the Seminole Hard Rock Hotel & Casino, Hollywood, Florida, on November 3. BetConstruct leads the way with seven nominations, Betsson Group follows with six, while Sportradar, SoftSwiss, GoldenRace and Codere also …