Codere

Codere is a Spanish multinational gaming operator founded in Madrid in 1980 by the Martínez Sampedro family together with the Franco brothers, owners of the amusement machine manufacturer Recreativos Franco. It began in amusement machines before diversifying into betting shops, bingo halls, casinos and racetracks. The group operates across Spain, Italy, Mexico, Argentina, Colombia, Panama and Uruguay, with Latin America accounting for much of its scale. Ownership has moved decisively away from its founders: debt-for-equity restructuring in 2021 and a recapitalisation in late 2024 left the business, trading as Codere Newco, controlled by institutional creditors and international investment funds, with the Martínez Sampedro family reduced to a minority holding.

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