Codere Purchases Panamanian Casinos in $40 Million

Gambling company Codere announced it will purchase 63% of Thunderbird, who operates six casinos in Panama.

Friday, July 23, 2010

The acquisition was started back on March, and is currently being reviewed by the Panamanian Office for Competition.

All of their locations use the “Fiesta Casino” brand, reported Codere, a Spanish corporation focused on gambling machines, bingos, sports books and hippodromes.

More on this topic

Five Subsidiaries of Gambling Company Codere in Bankruptcy

February 2014

Five subsidiaries of Codere, which operates 11 casinos in Panama, have declared bankruptcy a month after their holding company did so.

Five subsidiaries of the Codere gambling chain have declared bankruptcy a month after the parent company announced it was facing serious financial problems which prevented it from honoring its debts. The Panamanian subsidiary continues to operate normally.

Gambling Company Operating in Panama Files for Bankruptcy

January 2014

The Spanish based company operates in Panama 11 casinos, 6 sports betting centers, and the President Remon Racetrack.

Codere, the second largest bookmaker in Panama is facing serious financial problems which has prevented it from repaying its debts.

Last week the company filed for bankruptcy in Spain, allowing it to operate while achieving an agreement with its creditors to meet the payment of certain loans acquired in the previous year. The firm has a debt of $1.578 million plus a line of credit for $130 million.

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