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Codere invests $38 million in six casinos in Panama

Friday, August 20, 2010

Spanish gaming company Codere closed the purchase of six casinos in Panama for some $38 million. Following the acquisition, the company will now run 11 casinos and 3,500 gaming terminals in Panama.

The operation was an acquisition from the 63.6 percent stake that Thunderbird Resorts has in International Thunderbird Gaming Panama, owner of the six casinos. Codere will now brand the casinos as Fiesta Casinos.

The acquisition has been brewing for several months, but had been awaiting approval from the Panamanian authorities.

Original source (in Spanish): Expansión