Codere Panama In Good Financial Health

The Gaming Control Board has reported that the bookmaker maintains the liquidity and reserve levels required to operate in the country.

Friday, January 17, 2014

Officials from the Gaming Control Board (JCJ by its initials in Spanish) visited the offices of the gaming operator in Panama, after revelations that its parent company in Spain was facing serious financial problems preventing it from paying its debts.

"... During the inspection, officials found that the company has maintained the levels of liquidity and reserves required by law to operate in the country," said Antonio Alfaro, president of the Association of Managers of Gaming Houses in Panama (Asaja).

"... Company executives in Panama reported that they have not received any request to transfer funds from the local operation to the parent company in order to solve the cash shortage faced by the company."

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