Gambling operator Codere Group has strengthened its foothold in Italy with the acquisition of a 70 per cent stake in Codgames.
The deal for the company, which manages over 600 active AWP and video lottery terminals (VLTs) in Calabria, has been facilitated through Codere’s Operbingo Italia subsidiary.
Codgames’ founders, the Manna family, have retained the remaining 30 per cent of the business.
“We are convinced that this alliance opens the door to new opportunities and strengthens our long-term shared project,” said Alejandro Pascual, Codere’s regional manager for Europe and COO of its Italian operations.
“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.”
Armando Manna of the Codgames founding family said: “We are proud to join a group like Codere, which has demonstrated not only solid experience and reliability, but also a deep respect for local operators.
“We are confident that this collaboration will allow us to successfully face future challenges and continue adding value to our community."
As well as its land-based arm, Codere simultaneously operates Codere Online, which also operates in Spain as well as having a presence in Latin America, in particular in Mexico and Colombia.
