Moving forward the executive will be a key stakeholder in Codere’s planned ‘corporate transformation program’, which sees the legacy Spanish gambling group move to overhaul its technical and operating capacities for the Latin American and Spanish markets.
He will report directly to Codere Group CEO Vicente Di Loreto who underlined the importance of the appointment, with Codere’s executive team securing an expert in leading large-scale multi-national digitisation and innovation programmes.
“Luis strengthens our team and consolidates the strategy of change and transformation undertaken in our group to continue fulfilling our commitment with the client and with the creation of value,” Vicente Di Loreto informed Codere investors.
The Spanish tech executive joins Codere leadership, at a ‘critical time’ for the embattled gambling group, which seeks to raise $224m in working capital to fund its corporate recovery initiatives.
This June Codere governance appointed investment bank Credit Suisse to lead its corporate refinancing options and is further reviewing South American options with the aim of funding expansion projects within Mexico where it is currently the largest bingo hall operator.
Source: GMB / SBC Americas