Codere, a multinational company dedicated to the gaming and sports betting sector, has selected PKF Attest as the company's new auditor for fiscal years 2023, 2024 and 2025, according to industry sources consulted by EXPANSIÓN.
Codere replaces EY, which has been the company's auditor since 2016, for seven consecutive fiscal years. The professional services firm informed Codere in late October of its decision not to stand for re-election as independent auditor. In its last audit report, EY noted that there were "significant doubts about the group's ability to continue as a going concern."
Results
The betting company ended last year with a loss of €320.2 million, €19 million less than the results recorded in 2021, and a turnover of €1,314.8 million for the year, 67.5% more than in 2021 thanks to the end of the pandemic restrictions in the halls and, especially, to the recovery in Argentina and Italy.
In its latest results for the third quarter of the year, Codere reported a loss of 46 million euros and revenues of 301 million euros, both figures lower than those recorded in the same period of the previous year. Codere, headquartered in Spain, is present in seven countries in Europe (Spain and Italy) and Latin America (Argentina, Uruguay, Mexico, Colombia and Panama).
At the end of last year, the company had a total of 46,409 gaming machines installed, as well as 143 arcades, 1,039 arcades, 174 sports betting premises and 8,108 bars.
A couple of months ago, the company closed a 50 million euro bridge loan to secure its liquidity while negotiating a shareholder agreement.
Source: Expansion
