Luxembourg, Grand Duchy of Luxembourg,
June 25, 2024 – (GLOBE NEWSWIRE) Codere Online (Nasdaq:
CDRO / CDROW, the “Company”), a leading online gaming operator in
Spain and Latin America, today announced the favorable resolution
of all 21 agenda items at the Annual General Meeting (AGM) held
yesterday at the registered office of the Company, including the
appointment of three new members to its Board of Directors.
Mr. Gabriel Saenz de Buruaga, Mr. Taavi Davies
and Mr. Claude Noesen have been appointed as directors for an
initial term of one year, replacing Mr. Patrick Ramsey, Ms. Michal
Elimelech, and Mr. Laurent Teitgen.
Mr. Gonzaga Higuero, CEO of Codere Group, was
re-appointed as director and will also serve as Chairman of the
Board going forward. In regards to these changes, Mr. Higuero
stated “we welcome these new additions to the Board and look
forward to working with them to build upon the significant progress
achieved by the Company in recent years.”
Mr. Higuero further added “I would also like to
extend my sincere appreciation to Pat for his valuable contribution
and dedication as Chairman since Codere Online went public in 2021,
and I am excited that he will be joining me in the Board of our
parent company, Codere New Topco, following its recently announced
recapitalization and as it looks ahead to a promising future.”
For detailed biographies of the members of our
Board of Directors please visit
our website.
Changes to Board Committees
In the Board of Directors meeting held last week
ahead of the AGM, the following changes to the Company’s Committees
were approved:
-
Audit Committee - Appointment of Mr. Claude Noesen
as member. Mr. Borja Fernández and Mr. Daniel Valdez will continue
to serve as Chairman and member, respectively.
-
Compliance Committee – Appointment of Mr. Mark
Dunn as Chairman and Mr. Taavi Davies as member. Mr. Rafael Catalá
and Ms. Yaiza Rodríguez will continue to serve as members.
About Codere Online Codere Online refers,
collectively, to Codere Online Luxembourg, S.A. and its
subsidiaries. Codere Online launched in 2014 as part of the
renowned casino operator Codere Group. Codere Online offers online
sports betting and online casino through its state-of-the art
website and mobile applications. Codere currently operates in its
core markets of Spain, Mexico, Colombia, Panama and Argentina.
Codere Online’s online business is complemented by Codere Group’s
physical presence in Spain and throughout Latin America, forming
the foundation of the leading omnichannel gaming and casino
presence.
About Codere GroupCodere Group
is a multinational group devoted to entertainment and leisure. It
is a leading player in the private gaming industry, with four
decades of experience and with presence in seven countries in
Europe (Spain and Italy) and Latin America (Argentina, Colombia,
Mexico, Panama, and Uruguay).
Forward-Looking Statements
Certain statements in this document may constitute “forward-looking
statements” within the meaning of the “safe harbor” provisions of
the United States Private Securities Litigation Reform Act of 1995.
Forward-looking statements include, but are not limited to,
statements regarding Codere Online Luxembourg, S.A. and its
subsidiaries (collectively, “Codere Online”) or Codere Online’s or
its management team’s expectations, hopes, beliefs, intentions or
strategies regarding the future. In addition, any statements that
refer to projections, forecasts or other characterizations of
future events or circumstances, including any underlying
assumptions, are forward-looking statements. The words
“anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,”
“intends,” “may,” “might,” “plan,” “possible,” “potential,”
“predict,” “project,” “should,” “would” and similar expressions may
identify forward-looking statements, but the absence of these words
does not mean that a statement is not forward-looking.
Forward-looking statements in this document may include, for
example, statements about Codere Online’s financial performance
and, in particular, the potential evolution and distribution of its
net gaming revenue; any prospective and illustrative financial
information; and changes in Codere Online’s strategy, future
operations and target addressable market, financial position,
estimated revenues and losses, projected costs, prospects and
plans.
These forward-looking statements are based on
information available as of the date of this document and current
expectations, forecasts and assumptions, and involve a number of
judgments, risks and uncertainties. Accordingly, forward-looking
statements should not be relied upon as representing Codere
Online’s or its management team’s views as of any subsequent date,
and Codere Online does not undertake any obligation to update
forward-looking statements to reflect events or circumstances after
the date they were made, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws.
As a result of a number of known and unknown
risks and uncertainties, Codere Online’s actual results or
performance may be materially different from those expressed or
implied by these forward-looking statements. There may be
additional risks that Codere Online does not presently know or that
Codere Online currently believes are immaterial that could also
cause actual results to differ from those contained in the
forward-looking statements. Some factors that could cause actual
results to differ include (i) changes in applicable laws or
regulations, including online gaming, privacy, data use and data
protection rules and regulations as well as consumers’ heightened
expectations regarding proper safeguarding of their personal
information, (ii) the impacts and ongoing uncertainties created by
regulatory restrictions, changes in perceptions of the gaming
industry, changes in policies and increased competition, and
geopolitical events such as war, (iii) the ability to implement
business plans, forecasts, and other expectations and identify and
realize additional opportunities, (iv) the risk of downturns and
the possibility of rapid change in the highly competitive industry
in which Codere Online operates, (v) the risk that Codere Online
and its current and future collaborators are unable to successfully
develop and commercialize Codere Online’s services, or experience
significant delays in doing so, (vi) the risk that Codere Online
may never achieve or sustain profitability, (vii) the risk that
Codere Online will need to raise additional capital to execute its
business plan, which may not be available on acceptable terms or at
all, (viii) the risk that Codere Online experiences difficulties in
managing its growth and expanding operations, (ix) the risk that
third-party providers, including the Codere Group, are not able to
fully and timely meet their obligations, (x) the risk that the
online gaming operations will not provide the expected benefits due
to, among other things, the inability to obtain or maintain online
gaming licenses in the anticipated time frame or at all, (xi) the
risk that Codere Online is unable to secure or protect its
intellectual property, and (xii) the possibility that Codere Online
may be adversely affected by other political, economic, business,
and/or competitive factors. Additional information concerning
certain of these and other risk factors is contained in Codere
Online’s filings with the U.S. Securities and Exchange Commission
(the “SEC”). All subsequent written and oral forward-looking
statements concerning Codere Online or other matters and
attributable to Codere Online or any person acting on their behalf
are expressly qualified in their entirety by the cautionary
statements above.
TrademarksThis document may
contain trademarks, service marks, trade names and copyrights of
Codere Online or other companies, which are the property of their
respective owners. Solely for convenience, some of the trademarks,
service marks, trade names and copyrights referred to in this
document may be listed without the TM, SM, © or ® symbols, but
Codere Online will assert, to the fullest extent under applicable
law, the rights of the applicable owners, if any, to these
trademarks, service marks, trade names and copyrights.
Contacts:
Investors and MediaGuillermo
Lancha Director, Investor Relations and
CommunicationsGuillermo.Lancha@codere.com(+34) 628 928 152