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
Quantum Gaming Announces Phillip Pistauer as its New COO
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Quantum Gaming, a leading provider of innovative technology solutions for the iGaming industry, has announced the appointment of Phillip Pistauer as its new Chief Operating Officer (COO). Phillip joins the executive board, which includes CEO Oliver De Bono, and Chief Revenue Officer (CRO) Soteris Varnava. Together, this dynamic leadership team is poised to drive Quantum Gamingâs vision of redefining the iGaming landscape.
Phillip Pistauerâs journey in the iGaming industry began in 2013, with a trial-by-fire experience launching a brand on the EveryMatrix platform. This early challenge required him to learn the intricacies of the industry quickly and sparked his passion for the field. Recognising the immense opportunities in iGaming, Phillip strategically relocated to Malta where he joined NetEnt during its commercial expansion.
In 2020, Phillip joined Singular, a Georgia-based company renowned for its advanced platform technology. Initially appointed as Head of Account Management, he later transitioned to Head of Platform following Singularâs acquisition by Flutter International.
As part of Singularâs growth strategy, Phillip assumed the role of Head of Product in March 2024, further solidifying his reputation as a forward-thinking leader in iGaming.
Oliver De Bono, CEO of Quantum Gaming, said: âPhillip has a rare mix of operational expertise and vision for innovation. Heâs been through every level of this industry, and it shows in the way he approaches challenges. Weâre thrilled to have him on board as we gear up for some big moves this year.â
Among several exciting initiatives within the company, Quantum Gaming is also working on integrating AI-driven solutions to further enhance customer experience and operational efficiency. This AI project, along with others, reflects the companyâs commitment to staying ahead of industry trends.
In addition to Phillipâs appointment, Quantum Gaming is expanding its leadership team further with the upcoming addition of a Head of Affiliation, Head of QA, Head of Finance and Head of Sales. These new roles reflect the companyâs commitment to strengthening its operations and building a robust foundation for future growth.
Soteris Varnava, CRO of Quantum Gaming, said: âHaving Phillip on the team gives us an incredible advantage. He brings a fresh perspective and a proven ability to get things done. With the new leadership hires weâre making, 2025 is shaping up to be a transformative year for Quantum Gaming.â
The post Quantum Gaming Announces Phillip Pistauer as its New COO appeared first on European Gaming Industry News.
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.
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