Spanish Gambling Group Codere to Sell for Over €2 Billion Amid Restructuring

Codere, a Spanish gambling group, is up for sale with a potential value of over €2 billion. The company has hired Jefferies and Macquarie Capital to advise on the sale, which is expected to close before the August summer break. Codere operates casinos, betting shops, and bingo halls across Spain, Italy, and several Latin American markets. Potential buyers include strategic operators and financial investors, although ESG restrictions may limit private equity participation. The sale represents an exit for Codere, which has already undergone debt restructuring and stabilized operational control. However, the sale faces challenges due to the polarizing nature of the gambling sector.