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Codere Group has expanded its presence in the Italian gaming sector by acquiring a majority stake in Codgames, a company focused on video lottery terminal (VLT) and amusement with prizes (AWP) machines. The 70% stake was purchased through Codere’s local unit, Operbingo Italia, while the remaining 30% stays with the Manna family, who founded Codgames.
Good to know
- Codere now controls 70% of Codgames through Operbingo Italia.
- Codgames runs over 600 machines in Calabria, a key region in southern Italy.
- Codere reduced its corporate debt from €1.4 billion to €190 million last year.
Codgames operates more than 600 machines in the Calabria region, which gives Codere a stronger foothold in southern Italy. Financial details of the deal have not been shared publicly.
Alejandro Pascual, regional manager for Codere Europe and COO of its Italian division, called the acquisition an important move in the group’s Italian growth strategy.
“This acquisition represents an important step in our territorial expansion plan in Italy,” Pascual said. “Codgames embodies the values we seek in our partners: professionalism, local roots and commitment to the development of the sector.”
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He added that the partnership is expected to open new opportunities and deepen Codere’s long-term plans in the market.
Armando Manna, representing the founding family, said the partnership with Codere will help Codgames move forward with its own goals.
“We are proud to join a group like Codere,” Manna said. “They have demonstrated not only solid experience and reliability, but also a deep respect for local operators. We are confident that this collaboration will allow us to successfully face future challenges and continue adding value to our community.”
Codere’s involvement in Italy stretches back more than 20 years across both digital and physical gambling operations. The new move aligns with Codere’s broader strategy, announced last year, to focus more on growth in Europe and Latin America. That strategy followed a major recapitalisation effort, during which Codere cut its corporate debt from €1.4 billion (about $1.5 billion) to €190 million (around $204 million).
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