Tag Archives: codere

Codere cuts loses to €74 million for Q1-Q3 2015

Updating the market, embattled Spanish gambling operator Grupo Codere has reduced its corporate losses to €74 million for its nine month 2015 performance. The gambling operator shortens its losses from the €135 million reported for its Q1-Q3 2014 performance. Group Q3 2015 losses were reported at €25 million. The operator reported a 21% revenue increase to €1.2 billion up 21% …

Read More »

Creditors extend Codere debt restructure until end of 2015

Spanish embattled gambling operator Grupo Codere has been given until the end of 2015 (official date 31 December) to restructure its €1.1 billion (£815 million) debt by its creditors. The conformation of its debt extension, follows the announcement of a 25% increase in H2 2015 revenues to €408 million, following a marked recovery in the South American gambling markets of …

Read More »

Codere re-elects Jose Sampedro as CEO

The board of Spanish gambling operator Grupo Codere SA has unanimously approved the reappointment of Jose Antonio Martinez Sampedro as CEO. Jose Sampedro co-founded the operator and had served as CEO and President of Codere SA since May 1997 Sampedro’s reappointment follows the announcement that Codere aims to form a new business entity following the approval of the restructure of its …

Read More »

NetEnt sees record quarter opening to 2015

Igaming games developer NetEnt has reported its strongest ever interim quarter performance, as the Malta based content developer recorded a Q1 2015 revenue increase of SEK 258 million (£19.6 million) up 37% on Q1 2014 SEK188.4 million. Reporting performance increases on all top line metrics for the period ending 31 March, NetEnt’s increased revenues positively transferred to company operating profit …

Read More »

Codere continues its struggle with €136 million net income loss

Embattled Spanish casino and sports betting operator Grupo Codere increased its net income losses in the first nine months of 2014 by 36% €136 million (2013 – €93 million). The losses suffered by the operator were driven by increased costs in its debt restructure and its settlement with Italy’s Court of Auditors. In its latest financial report Codere senior management …

Read More »

Codere Apuestas integrates Betradar live channel retail system

Sports data and technology supplier Betradar, have announced Spanish gambling and sports betting operator Codere  as its latest Live Channel Retail partner. Betrader will serve its live streaming solution to Codere’s 100 retail outlets across Spain, Betradar expects to fully integrate its solution with CODERE in the coming months. Betradar’s Live Channel Retail includes a wide range of international media …

Read More »

Codere reports €64.6 million in losses for H1 2014

Spanish and Latin American focused gambling operator, Grupo Codere reported operational losses of €64.6 million (£51.4 million) for the first half of 2014. The loses attributed by Codere during the period will be absorbed with the recorded losses of €74.7 million (£60.1 million) for H1 2013 performance. Codere reported company turnover of  €656.6 million (£520.8 million) down 15% on H1 …

Read More »

Codere given 48 hour bankruptcy lifeline

Spanish gambling operator Codere SA has been granted a 48 hour extension to solve its corporate debt restructure with creditors, as the operator looks to avoid entering bankruptcy protection. In a meeting between Codere bondholders and senior facility lenders, Codere had been granted a further 48 hours, to its existing May 10 insolvency deadline. Codere SA had been seeking new …

Read More »

Codere secures extension to restructure debt holdings.

Embattled Spanish listed gambling operator Codere SA, has been granted an extension to negotiate its €1.1 billion debt (£935 million). Codere pleaded to Spanish government courts that the operator needed more time in order to restructure its debt bonds in order to avoid creditor insolvency. Codere SA have been granted a ten day extension to prove its debt strategy  by …

Read More »