Codere reached a net benefit of 11.5 million euros

The 2006 collection reached 760.7 million euros, a 61.3% more than in 2005, and operative expenses reached 641.4 million euros last year, a 51% more than in 2005, so the operative earning was 119.3 million euros in 2006, a 154% increment compared to 2005.

EBITDA was 175.6 million euros in 2006, which represented a 92.5% increment compared to the previous year.

Codere is leader in Europe and Latin America and manages more than 45,000 recreational machines, 116 bingo halls, 51 sports betting centers, 2 horse race-tracks and 5 casinos in Spain, Italy, Argentina, Brazil, Colombia, Mexico, Panama and Uruguay.

According to the company, the key elements for this positive numbers have to do with the consolidation of bingo halls from Royal Group, acquired in 2005 in Argentina, the increment of the number of recreational machines in Spain, Mexico and Argentina, as well as the increase of the number of bingo halls in Mexico and Italy.

In Spain, the collection in the recreational machine area increased a 13% during 2006 compared to 2005, achieving 183.2 million euros, showing a rise in the number of machines installed (13,995 in 2006) and an improvement of 5% in the dayly net collection per machine.

The operation of recreational machines in Spain represented a 24.1% of the collection of Codere Group in 2006 and a 28.5% of EBITDA. With regards to the activity of Bingo Canoe, it increased its collection a 5.7% in 2006, reaching 28.3 million euros.