Mayor Ricardo Ehrlich signed this week the concession of Carrasco Hotel to Codere group, winner of the tender process. The file was also sent to the Department Council, where it is expected to be approved in a quick bureaucratic procedure. The National Audit Court (TCR) returned last week the Carrasco Hotel Casino file to Montevideo Council.

Spanish group Codere will be the new operator of Carrasco Hotel Casino Carrasco for 30 years. Montevideo Council will officially reveal in the following days who is the winner. Besides, members of the chain Hyatt-Liberman assure that they will continue with the challenge because they consider that the tender process was not transparent. Last week Montevideo City Council was to reveal who the winner was, but the issue has been postponed for today.

Franco Muñoz brothers have extended the deadline until November 13th for the Martínez-Sampedro family, majority shareholders of Codere, to make the payment for the acquisition of the 32.5 % of the capital of the private gaming company, agreed in March, 2006. According to Martínez-Sampedro Brothers’ communication to the National Stock Market Commission (CNMV)...

Standard & Poor’s dropped the credit qualification on the international Spanish gaming company Codere to “B+” (poor quality) from “BB-“ (questionable quality), which had been assigned previously, due to its “aggressive” financial profile and the situation of uncertainty of its shareholders. "Codere drop reflects its aggressive financial profile and a probable trade deficit in achieving its objectives of leverage ratio to the closure of 2008 exercise"...

Greek betting monopoly operator OPAP has dismissed reports that it is considering acquiring a stake in Spanish gaming group Codere from the Martinez Sampedro family, but reaffirmed its determination to expand geographically beyond its home market. In a filing with the Athens Stock Exchange, OPAP said its goal was to become a leading operator in the international gaming market, reducing its dependence on the current concession with the Greek state.

Victoria, the company born from an association between two leading operating companies as Codere and William Hill, introduce a new leisure and entertainment concept in the Madrid market with the opening of sportsbooks centers. The Financial Counsellor of Madrid Council, through the General Direction of Gaming, has granted Victoria the authorization for sportsbooks operations, becoming, this way, the first Spanish company in offering this new leisure and entertainment category.

Tsakos Group, firm associated to Codere Group (which already operates in the country in Maroñas horse race-track) and Portuguese company Pestana, showed their interest in the tender of Carrasco Hotel Casino, affirmed Tuesday local sources in an article published by newspaper El País, from Uruguay. Tsakos Group, comprised by Greek capitals, had already been negociating in order to obtain the tender of Carrasco Casino Hotel.

Private group Codere has been granted the license, as part of consortium Garaipen Victoria Apustuak, of one of the licenses for the operation of sportsbooks in the Vasque Country, according to a press release. This consortium is a society comprised by a 67% of the joint venture between Codere & William Hill, while the 33% belongs to local partners, such as Gabascar and 27 Vasque oeprators of the private gambling sector.

Last Friday, Codere & William Hill Joint Venture has presented to the General Gaming Direction of Madrid Council the necessary documentation to obtain the first sports betting license in Spain. The publication of the regulation for the provision of the sports betting services in Madrid, last December 18th, put Madrid citizens as potential users to enjoy this innovative service in the country for the first time. This product has existed in UK and Ireland for more than 70 years.