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Q1-2012 results from Codere disappointing

Tuesday May 15, 2012 : INTERACTIVE DIVISION BOOSTS CODERE RESULTS
 
But Spanish gambling group still sustains a net loss
 
Q1-2012 results from the Spanish land and online gambling group Codere were disappointing for investors this week, showing a net loss over the quarter despite a rise of just over 17 percent in EBITDA to Euro 78.9 million.
 
Codere Interactiva and Codere.it contributed to the bottom line, delivering overall turnover up by 31.8 percent year-on-year to Euro 403.3 million and exceeding its operating profit forecast by reaching Euro 75 million due to strong growth in Latin America and Italy.
 
The group as a whole posted a net loss of Euro 11.3 million, which it attributed to increased taxation, rising financial costs and non-recurring expenses associated with business restructuring in Spain.
 
Towards the end of the first quarter, Codere reported a cash balance of Euro 186.4 million and a drawable credit line of Euro 60 million. The company employs some 20,000 people.



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Tim Chung Wins MPNPT Manchester - The 288-runner 550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the 150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the 550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the 550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

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2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursdays schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

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