Tag Archives: Codere
Colombia – Habanero makes Colombian debut with Codere
Habanero has broadened its partnership with Codere, securing its first game launch in the Colombian market. Players in Colombia will be able to enjoy Habanero’s content for the first time, allowing them to play slots such as Egyptian Dreams, 5 Mariachis and Lucky Lucky, as well as the supplier’s roulette, blackjack and casino poker. Vera…
South America – Codere secures credit as it looks to expand in Mexico and Uruguay
Codere has managed to secure a new line of credit as confirmed in its interim report submitted to the National Securities Market Commission (CNMV). The credit amounts to US$30m and $200m Mexican pesos and will be used to improve the liquidity of the group in both Uruguay and Mexico, respectively. The loan adds to its…
Mexico – Zitro to install more cabinets in Codere casinos
Zitro has announced an agreement with Codere which will see a further 1,000 units of the supplier’s video slots cabinets, Illusion and Allure, installed in Codere casinos. This is in addition to the 5,000 machines of Zitro that Codere already has in operation in Mexico. “We have made an important commitment to Zitro already, which…
Spain – Codere launches Aerofootball with Real Madrid
Codere, Real Madrid’s Official Sports Bookmaker sponsor has announced the launch of a new type of sports betting product called Aerofootball Codere in Spain, Mexico and Colombia. The sport is played by members of Real Madrid’s first squad. Ángel Fernández, director of Global Brand of Codere, explains: “Given the advertising saturation in football matches, we…
Spain – Codere makes gains online but records net loss
Codere has released its nine month report reporting an increase in net loss as it continues to suffer from the economic crisis in Argentina. Other challenges facing the company are new taxes in Argentina, and Italy. However it reported solid gains in its online operations in, Spain, Italy and Uruguay. Its online sector is evolving…
Spain – Standard and Poor’s lowers credit rating for Codere
Global rating agency Standard and Poor’s (S&P) has lowered the credit rating of Codere from B to B- with a negative outlook, after the company reported “inconsistencies” of up to €18m in three of its Latin American subsidiaries. Despite the rating change shares increased from €3.18 compared to €3.14 when the session closed. After finding…
Uruguay – Codere considering selling stake in its Uruguay operations
Codere is analysing the sale of a majority stake in its business in Uruguay or an alliance with a casino operator. Changes to its business operations in Uruguay could include a ‘joint venture’ with a casino operator in the region or the sale of a non-controlling interest in the market. According to a statement communicated…
Argentina – Codere makes strong defence in face of rating agencies’ reviews
As a result of the uncertainty generated in the markets following the results of the primary elections in Argentina, rating agencies have conducted a review of Spanish gaming operator Codere due to the group’s exposure to the market. The credit rating agency S&P maintains the B rating for Codere, although it will be monitored for…
Spain – Codere reports profits despite Argentina crisis
Codere has reported an adjusted gross operating profit (EBITDA) of €70.3m in the second quarter of the current year, representing an increase of 8.2 per cent compared to the €65m which it earned in the same quarter in 2018. According to preliminary data communicated to the National Securities Market Commission (CNMV), the company managed to…
