Spanish gaming group Codere said Thursday that it continues to negotiate to refinance its €1.2bn debt as the company seeks protection from creditors in order to avoid insolvency.
Codere said that despite generating EBITDA of €287.3m in 2012, some “extraordinary” events during the past two years had resulted in liquidity constraints for the company.
This included the payment of €107m for the anticipated renewal of its gaming licenses in the Argentine province of Buenos Aires, the implementation [...]