International edition
October 15, 2021

Last year the firm made revenues of 761 million euros

Spanish gaming group Codere considers listing

(Spain).- Spanish gaming group Codere said it was looking at listing on the market in the next few months to fuel growth and strengthen its balance sheet. "Codere’;s stakeholders will meet this Friday to study the matter. The intention would be to list before the summer (break in August)," a spokesman said.

T

he spokesman said Codere, Spain’s second-biggest gambling company after unlisted Cirsa, was also considering other financing methods to help it pay existing debt and may also issue bonds to fund its growth. "At the moment, there is a lot of interest from private capital. There are offers to take stakes," the spokesman said.

Last year Codere made revenues of 761 million euros and EBITDA (earnings before interest, tax, depreciation and amortization) of 176 million euros.

The group is expanding globally and bought a stake in Mexico’s CIE Las Americas earlier this month. It now has casinos and bingo halls in Argentina, Uruguay, Mexico, Panama, Colombia and Italy as well as Spain, where new laws are boosting gaming.

Family-owned Codere is being advised by Credit Suisse.

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