By BBBB
The 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.
English