Tag Archives: madrid

Nueva Codere recovery outlook bolstered by positive Q1 results

Nueva Codere has declared that it is on course to match its ‘pre-pandemic’ financial performance as the Spanish and LatAm gambling group begins to benefit from its corporate restructuring.  Trading in its new identity, following its delisting from the Madrid Bolsa and the demerger of the Codere Online unit – Nueva Codere has announced that it has achieved corporate revenues …

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Spain to vote on DGOJ to take ‘central control’ of betting fraud duties 

Spain’s Congress of Deputies has approved for MPs to vote on a set of new measures to be applied to ‘The Gambling Law’ that will strengthen the “state’s control on monitoring betting fraud to help tackle sports corruption”.  The Congress that serves as Parliament’s ‘legislative review branch’ voted unanimously in favour (343 votes / 0 against) of approving amendments that …

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Evolution Gaming posts 50% increase in profits ahead of studio expansion 

Evolution Gaming has outlined significant global growth prospects for its Live Gaming and RNG business units, following a strong start to year trading.  Publishing its Q1 2022 trading update (period ending 31 March), Evolution has registered corporate revenues of €327 million, up 38% on corresponding Q1 2021 results of €236 million. A breakdown of units saw Evolution’s flagship Live Gaming …

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Madrid Decree toughens rules on gambling venues 

The Governing Council of Madrid has approved a ‘Community Decree’ that will overhaul how betting and gambling premises operate within Spain’s capital city.  Last week, the council unanimously voted in favour of the decree that will override the existing laws that oversee gambling premises operating across Madrid’s twenty-one districts.   The decree aims to desaturate the presence of betting venues within …

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Codere backs stable portfolio ahead of further 2022 transformations

Codere SA has published a performance update on Q4 2021 trading activities – a period that saw the Spanish gambling group delist from the Bolsa Madrid exchange to comply with bondholders’ orders. During Q4 trading, Codere registered corporate revenues of €291m, a  result that saw the company match 85% of like-for-like revenues achieved during Q4 2019  prior to its business …

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Codere Online maintains growth momentum as SPAC IPO approaches

Codere Online has reported strong revenue trends in key global markets, after the online sports betting and igaming firm documented its second quarter performance after entering into a business combination agreement with DD3 Acquisition Corp. The online gaming subsidiary of casino operator Codere Group entered into the deal with the publicly traded special purpose acquisition company in June. The transaction, valued …

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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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Codere defers debt note duties until 2023

The creditors of Codere SA have allowed the Spanish gambling group to renegotiate the terms of its senior secured debt notes. The Bolsa Madrid gambling group has been allowed to defer its debt maturity payments from 2021 to 2023 as part of the firm’s ongoing restructuring arrangements. Back in July, company creditors had allowed Codere to access a further €250 …

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Alberto Garzon: October marks a new era for Spanish gambling beyond sponsorship restrictions

La Liga football clubs have been placed in direct conflict with Spain’s Ministry of Consumer Affairs having renewed their betting sponsorships and partnerships ahead of the imminent enforcement of Spain’s federal Royal Decree on Advertising. This weekend, as La Liga commenced its 2020/2021 season, Alberto Garzon – Spain’s Minister of Consumer Affairs -lambasted football clubs for purposely undermining the Decree’s …

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