Tag Archives: codere

Codere in ‘conflict of interest’ lawsuit following Martinez Sampedro share dilution

Embattled Spanish gambling operator Grupo Codere has been issued a lawsuit by ‘former Codere shareholders’ regarding its April share capital disbursement which saw the controlling Martinez Sampedro family reduce its corporate equity to 2%. The share dilution which aimed to raise + €450 million in capital in order to ease the company’s + €1 billion debt with existing creditors is …

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Martinez Sampedro family dilutes Codere SA stake to 2% following share capital disbursement

Embattled Spanish gambling operator Grupo Codere SA (Codere) has issued a new share capital increase valued at circa €494 million (£400 million). Executing its share issue with Spain’s National Securities Market, Codere will approximately release 2.47 billion shares at a value of € 0.20c (per share). Codere’s share distribution will be primarily used to offset its current + €1 billion …

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New client growth drives NetEnt 2015 revenue & profits

New client growth in the US, UK and Europe has helped Stockholm listed igaming content provider NetEnt AB post a FY 2015 revenue increase of SEK 1.1 billion (£910 million) up 34% on FY 2014’s SEK 850 million. Publishing its year-end 2015 performance (period January – December 2015), NetEnt governance recorded corporate earnings of SEK 401 million (£33 million) with …

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UK court allows Codere SA to secure debt under London policy

UK High Court Judge Guy Newey has granted Spanish distressed gambling operator Grupo Codere SA the right to secure its €1.2 billion (£850 million) debt restructure utilising London market policy. Following a preliminary hearing, Newey ruled that Codere’s debt restructure was viable under London jurisdiction, despite its previous bonds having been issued in New York and the operator having no …

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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% …

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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 …

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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 …

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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 …

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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 …

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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 …

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