International edition
September 24, 2020

It is the 63% share that Thunderbird Resorts has in six casinos

Codere would pay us$ 40 million for six casinos in Panama

(Panama/Spain).- Spanish Gaming group Codere said that it will pay between us$ 38 and us$ 40 million due to the 63% share that operator Thunderbird Resorts has in six casinos in Panama.

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n a statement to Spanish stock market regulador, Codere said that the authorization of the Panamanian office, that begun last March, is still pending. Casinos are operate under the brand Fiesta Casino, reminded the Spanish company.

Besides, Codere acquired this week a share of 67.3% in several societies from Mexican group Caliente, that count with 46 gambling licenses and operate 32 venues.
 
The group said that it will issue bonds by 100 million euros (us$ 128 million) with the aim to repay their own debt and to face certain obligations from Caliente. In a press release to Spanish stock market supervisor, Codere said that stocks are 8.25% and will be in force until 2015.
 
The operation is part of the restructuring of a debt of round us$ 175 million that Caliente had with Codere. With the sale of those assets, Caliente will recoup us$ 71 million of debt, while the other us$ 75 million will remain as loans of Codere and the other us$ 25 million will be the new debt with the Spanish company.

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