May 7, 2021
In Spain and the founding family behind local gaming operator Codere SA is reportedly demanding that a pair of American investors be required to pay at least €900 million ($1.09 billion) for its large stake in the Madrid-headquartered firm.
According to a Thursday report from SBCNews, the Madrid-listed entity was established by Jose Antonio Martinez Sampedro in the 1980s and is today responsible for land-based and online gaming operations in Spain, Mexico, Argentina, Italy, Uruguay, Colombia and Panama. However, the source detailed that the founder was ousted as the Chief Executive Officer for Codere SA in 2018 as part of a plan that restructured company debts worth an estimated €1 billion ($1.21 billion).