{"id":8255,"date":"2024-11-25T00:19:49","date_gmt":"2024-11-25T00:19:49","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/11\/25\/codere-group-targets-expansion-in-latin-america-and-europe-following-successful-recapitalization\/"},"modified":"2024-11-25T00:19:49","modified_gmt":"2024-11-25T00:19:49","slug":"codere-group-targets-expansion-in-latin-america-and-europe-following-successful-recapitalization","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/11\/25\/codere-group-targets-expansion-in-latin-america-and-europe-following-successful-recapitalization\/","title":{"rendered":"Codere Group Targets Expansion in Latin America and Europe Following Successful Recapitalization"},"content":{"rendered":"<div>\n<p>Codere Group has successfully completed its long-awaited recapitalization process, drastically reducing its corporate debt from \u20ac1.4 billion to approximately \u20ac190 million. This significant restructuring marks a turning point for the gaming operator, enabling it to focus on financial stability and pursue expansion in its key markets, particularly in Latin America and Europe.<\/p>\n<p>The recapitalization, which began in June, also included securing \u20ac60 million in new financing to bolster Codere\u2019s business plan and reinforce its financial health. With consolidated net debt now reduced to around \u20ac65 million, the company has positioned itself for a future of stability and growth.<\/p>\n<p>This aligns with the approach of platforms like <a href=\"https:\/\/thimblesbet.com\/\">ThimblesBet.com<\/a>, which leverages transparency and innovation to gain players\u2019 trust. This online gaming platform, centered around the classic Thimbles game, is redefining player engagement by focusing on fairness and entertainment. Like Codere, it is part of the digital revolution that is reshaping the gaming industry.<\/p>\n<h2>A New Stage of Stability and Growth<\/h2>\n<p>Codere has described this recapitalization as a transformative milestone. By restructuring its debt and improving liquidity, the company has created the foundation for long-term value creation and leadership consolidation in the gaming sector. The group highlighted its optimal debt structure, now at approximately 0.9 times its adjusted EBITDA for 2023, as a significant achievement that enhances its financial flexibility.<\/p>\n<p><em>\u201cThis marks the beginning of a new stage of financial stability and strengthens our capacity for expansion,\u201d<\/em> Codere said in a statement. 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Despite delays that pushed the process beyond the initial Q3 timeline, the successful completion has reinforced the company\u2019s solvency and ability to achieve its strategic goals.<\/p>\n<h2>Codere CEO Praises \u201cDecisive Success\u201d<\/h2>\n<p>Codere CEO <a href=\"https:\/\/igaming.org\/casino-news\/codere-online-announces-board-reshuffle-after-agm\/\">Gonzaga Higuero<\/a> called the recapitalization a \u201cdecisive success,\u201d emphasizing its role in securing the company\u2019s future. <em>\u201cThis recapitalization guarantees our financial position and relaunches the company\u2019s ability to achieve its objectives,\u201d<\/em> Higuero said. He also expressed gratitude to clients, investors, and employees for their trust and support during the process.<\/p>\n<h2>Economic Challenges and Recovery<\/h2>\n<p>The company\u2019s progress comes despite <a href=\"https:\/\/igaming.org\/crypto\/cryptocurrency-adoption-rising-in-economies-with-currency-challenges\/\">macroeconomic challenges<\/a>, particularly in Argentina, where significant <a href=\"https:\/\/www.bbc.com\/news\/business-67688727\">currency devaluation<\/a> cost Codere \u20ac40 million in Q2. Revenues in the region were down 45% compared to Q2 2023. However, the company noted signs of recovery, with revenues now growing above inflation. Codere anticipates that the second half of 2024 could mark a positive turning point for its operations.<\/p>\n<p>The financial restructuring equips Codere to navigate such challenges better while pursuing expansion opportunities. 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With a focus on Latin America and Europe, the company is set to strengthen its market presence and capitalize on growth opportunities. This mirrors the broader evolution of the gaming sector, where innovation and sustainability are critical to long-term success.<\/p>\n<p>New companies like ThimblesBet.com exemplify the future of gaming by combining traditional concepts with modern digital innovation. By embracing transparency and player-first practices, ThimblesBet.com and Codere both demonstrate the importance of adapting to a rapidly changing industry. As Codere embarks on its next chapter, it reinforces the potential for growth and transformation across the global gaming landscape.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/codere-group-targets-expansion-in-latin-america-and-europe-following-successful-recapitalization\/\">Codere Group Targets Expansion in Latin America and Europe Following Successful Recapitalization<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Codere Group has successfully completed its long-awaited recapitalization process, drastically reducing its corporate debt from \u20ac1.4 billion to approximately \u20ac190 million. This significant restructuring marks a turning point for the gaming operator, enabling it to focus on financial stability and pursue expansion in its key markets, particularly in Latin America and Europe. The recapitalization, which [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-8255","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8255","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=8255"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8255\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=8255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=8255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=8255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}