Codere Acquires Majority Stake in Nori Games

Sun, Feb 5, 2017

Grupo Codere has acquired a 51 percent stake in Nori Games, an Italian gaming machine supplier, and its portfolio of 400 machines, for an undisclosed sum.

Spanish casino operator Grupo Codere, through its Italian business subsidiary Codere Italia, has acquired a 51percent stake in Nori Games Services SRL, an Italian gaming machine supplier.

Seeking to increase its presence within the Italian gambling market, Codere acquired the majority stake in Nori Games from the Cimmino family for an undisclosed sum. Currently, Nori Games holds a portfolio of 400 gaming machines largely serviced in the region of Lombardy.

Commenting on the investment, Alejandro Pascual, CEO of Codere Italia, said Nori Games fit into Codere’s group long-term ambitions of growing its services within the Italian gambling market, according to SBC News.

According to the SBC report, after refinancing of Codere operations in 2015 and 2016, Codere has formed a new strategic plan to refocus growth closer to its Spanish home market, following significant declines in South America.

Codere has placed emphasis recently on expanding its services in Italy.

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