31/03/2015
NetEnt signs contract with CODERE in Spain
NetEnt, Net Entertainment, leading provider of online gaming solutions, has signed a license agreement with CODERE, one of the largest gaming operators in Spain.
Under the terms of the agreement, NetEnt will deliver a wide range of casino games to CODERE’s online casino in Spain. CODERE is a leading Spanish gaming company with a significant presence in Spain, Italy and Latin America. As previously communicated, NetEnt is currently in the licensing process in Spain with the ambition to deliver its products and services to the Spanish market in 2015.
“We are excited to partner with CODERE and for the opportunity to provide their online players with our world-class thrilling games. CODERE is a market leader in Spain, which is one of our prioritized countries when it comes to new regulated markets with strong growth potential”, says Enrico Bradamante, MD of NetEnt Malta Ltd and Chief of European Market Operations.
Mr. Ángel Fernández, Marketing Manager for CODERE Apuestas, comments: "The agreement reinforces CODERE’s customer-centric strategy focused on maximizing the so-called CODERE Experience and boosting the convergence of channels (Brick & Click). After having successfully relocated the sports betting experience from an offline environment to online, we are highly convinced that our offer of new casino games (slots, black jack and roulette) will be highly appreciated among customers".
This partnership will bring a strong complement to CODERE’s current gaming and entertainment offer. NetEnt, leading provider of gaming solutions in Europe, is especially acknowledged for its Touch ™ products adapted to all types of mobile devices as well as its innovative and exciting games, e.g. branded games from the likes of Universal ™, 20th Century Fox ™ and South Park.
Since its launch in Madrid at the end of 2014, CODERE Apuestas online betting via mobile phones (codere.es) has experienced a very positive development. In this regard, the Company will keep providing its gaming platform with new products, features and content to expand its entertainment offer to the Spanish market.
Signing NetEnt and Codere
24/03/2015
CODERE Showcasing its Sports Betting Model at FER- INTERAZAR 2015
CODERE will be taking part in the 35th edition of the FER-INTERACAR 2015 professional gaming trade fair on March 24-26 at a stand recreating an actual CODERE Apuestas betting area enabling visitors to experience this Company’s entertainment and gaming first-hand. Visitors will also be able to get a close-up look at the successful CODERE Apuestas business model, which provides the highest profit margin per point of sale on the market, making it the most interesting business proposition anywhere in the industry.
The major success of Codere’s sports betting is based on an effective combination of a specialized team of professionals, a high-quality product and exclusively partners-only consulting, all under the umbrella of a brand name of great renown on the market.
Thanks to the success of its business model, the Company is not only consolidating its positioning as the only company in the industry with a global presence in Spain, but is also achieving sound growth, with a win share of over thirty percent (30%).
Over the coming months, in addition to continuing its deployment in the Autonomous Communities where betting has recently been legalized – via its efficient management with partners- it will also be promoting the online activity via its mobile phone app: www.codere.es, spearheading integral sports betting management.
FER-Interazar 2015 Press Release
Stand at Fer-Interazar
27/02/2015
CODERE reaches €213,2mm Adjusted-Ebitda in 2014, improving the results of 2013
The Codere Group, a leading Spanish multinational in the private gaming sector, has announced today the results for the year and quarter ended December 31st, 2014.2014 Operating Revenues decreased by 8.9% to €1,385.6MM, compared to the previous year, mainly due to depreciation of the Argentine Peso.
Reported EBITDA, including costs incurred in the financial restructuring process, decreased by 17.6% from €198.4MM in 2013 to €163.5MM in 2014. Q4 2014 Adjusted EBITDA reached €63.6MM exceeding the company guidance of €53-57MM. Furthermore, Adjusted EBITDA margin for the year ended reached 15.4%, improving 1.5% from the previous year.
The company continues to work closely with its lenders to implement the restructuring financial plan agreed in the “Lock up Agreement” disclosed to the market on 23th of September, 2014.
Q4 2014 Results Press Release