Spanish gaming operator Codere is expanding its presence in Italy with the acquisition of a majority stake in Codgames.
Codgames operates more than 600 video lottery terminals and amusement machines in the Italian region of Calabria and is being acquired through Codere’s Italian subsidiary, Operabingo.
Operabingo will own a 70 per cent stake in the business, with the founding Manna family holding the remaining 30 per cent. The financial details of the transaction have not been disclosed.
“We are proud to join a group like Codere, which has demonstrated not only a solid experience and reliability, but also a deep respect for local operators,” said Armando Manna.
“We trust that this collaboration will allow us to successfully face future challenges and continue to add value to our environment.”
Alejandro Pascual, Codere’s chief operating officer in Italy, commented: “This acquisition represents an important step in our territorial expansion plan in Italy.
“Codgames embodies the values we seek in our partners: professionalism, local roots and commitment to the development of the sector. We are convinced that this alliance opens the door to new opportunities and strengthens our common long-term project.”