Industry News
Codere SA Seeks Emergency Funding Solutions
According to reports, Codere SA is seeking emergency funding solutions that have failed to convince creditors to help their company recovery plans.
The embattled gambling group Bolsa Madrid has failed to secure an additional € 100m credit line to keep Spanish and LaTam retail units floating during lockdown.
Codere is currently sustaining its company on the verge of bankruptcy via a €130 million credit facility that is expected to run out by the close of trading in July.
Future expectations see Codere facing higher interest rates on its corporate debt of €800 million, having delayed repayments in April in order to seek new funding options.
Meanwhile, financial advisor Bank of America has failed to renegotiate terms of debt maturity with US bondholders Silver Point and Abrams Capital.
The eyes of Bolsa Madrid have turned to the next actions of Codere president Norman Sorensen to collect immediate money.
In a race against time, with a view to selling its individual South American business units (Argentina, Mexico and Uruguay), Codere could secure a further amnesty for debt paid.
However, a selling option for LaTam would be undertaken under unfavourable conditions, following currency collapses reported across its entire portfolio in South America.
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Industry News
SUZOHAPP Appoints Geoff McDowell as New President
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SUZOHAPP has announced the appointment of Geoff McDowell as its new President, effective October 1, 2024.
McDowell previously worked at SUZOHAPP from 2010 to 2017, successfully leading the gaming business in Australia and Asia. He rejoins the company from Coinflip, a global digital currency platform, where he was SVP/GM of US Kiosks. Prior to that, he held the position of CEO of Atlas Gaming Pty Ltd, an Australian developer of proprietary gaming content and products.
âWe are thrilled to welcome Geoff back to our global leadership team to lead one of our core divisions. His proven track record in growth and strategy execution will be invaluable as we continue to serve our customers and achieve strong results. We also extend our gratitude to Sim Bielak for his years of dedicated service and leadership at SUZOHAPP,â said Drew Scielzo, ACON Partner.
Geoff McDowell is excited about his return and the opportunity to drive SUZOHAPPâs success. âSUZOHAPP is an exciting company with tremendous growth potential and a strong team. I look forward to embracing this new challenge in an industry I am passionate about,â he said.
The post SUZOHAPP Appoints Geoff McDowell as New President appeared first on European Gaming Industry News.
Industry News
Amusnet Releases Showtime Roulette 500x
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Amusnet has released Showtime Roulette 500x, where entertainment meets innovation. This fast-paced European roulette reinvents the classics, featuring a host who presents, entertains and spins the wheel for a seamless, engaging experience. With every spin, a random multiplier can increase the payouts by 50x, 100x, 150x, 200x, 250x and 500x for a thrilling experience. Showtime Roulette 500x offers a fantastic gaming experience that is sure to entertain and captivate players.
What truly sets this game apart is its groundbreaking customisation capabilities. Leveraging advanced chroma technology, operators can transform the game environment to reflect their unique brand identity. The possibilities are endless, from integrating their logos to designing bespoke background themes. This level of personalisation enhances brand visibility and delivers a tailored, immersive gaming experience that resonates with players, making every session feel distinctively crafted.
Dynamic Paytable
Up to five numbers and a win multiplier of between 50x and 500x are selected at random for bigger rewards!
Instant Re-bet function
Pick again the lucky numbers for the last 15 spins!
Statistics for Hot & Cold
Make your strategy with statistics for the last 500 spins!
Jackpot Cards with scheduling option
Once the Jackpot Cards Bonus game is triggered, impressive Jackpots are revealed!
The post Amusnet Releases Showtime Roulette 500x appeared first on European Gaming Industry News.
Industry News
GROUPE PARTOUCHE: Acquisition of a Building at the Foot of the Arc De Triomphe to House its Parisian Gaming Club and its Head Office
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Groupe Partouche has acquired a building, strategically located at Place de lâEtoile in Paris, at 10 avenue de la Grande ArmĂ©e.
With a surface area of over 8000 mÂČ spread over seven levels, this building will undergo development work to accommodate its Parisian gaming club currently located on rue de Berri.
This building will also house the headquarters of Groupe Partouche.
The post GROUPE PARTOUCHE: Acquisition of a Building at the Foot of the Arc De Triomphe to House its Parisian Gaming Club and its Head Office appeared first on European Gaming Industry News.
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