Key Takeaways
- Codere has failed to make a a €31m interest payment on one of its bonds. The Spanish global gaming company has made losses for seven straight quarters and has only €95m in cash on its books.
- The company operates a poker room in Spain on the Boss Media/GTECH G2 network. It is an almost insignificant part of the company’s global operations and players should not be concerned about the security of their funds.
- Codere had revenues of €1.17 billion for the first nine months of the year, and reported earnings (EBITDA) of €172m. Its problem is one of debt not fundamental unprofitability.
Codere has failed to make a a €31m interest payment on one of its bonds. The Spanish global gaming company has made losses for seven straight quarters and has only €95m in cash on its books.
