MAR 23 DE ABRIL DE 2024 - 21:50hs.
To meet strategic and financial objectives

Codere analyzes selling its casinos in Uruguay or sign alliance with another operator

Codere is analyzing possible structures for the development of its business in Uruguay that could include a 'joint venture' with a casino operator in the region or the sale of a non-controlling interest in that market. Local media expressed a possible agreement with the Chilean group Sun Dreams to sell at least 50% of their casinos in the country.

"The Codere group permanently has conversations with potential partners in order to promote and meet its strategic and financial objectives," the Group said in a statement sent yesterday (Monday) to the National Securities Market Commission (CNMV).

However, the company has specified that no agreement has yet been formalized that details can be given to the market, "without prejudice to which it will be informed if the negotiations, with the mandatory approval of the board of directors, were consummated in an operation that should be reported."

In this way, the Group responded to information published by local media 'El Confidencial', which, citing sources close to the talks, stated that the Spanish company is in negotiations with the Chilean group Sun Dreams to sell at least 50% of its casinos in Uruguay, which have been valued at more than 150 million euros.

The company "will inform whether the negotiations, with the mandatory approval of the Board of Directors, will be consummated in an operation."

Source: Europa Press