The multinational had to defaultear several expirations of hundreds of millions of euros to file the bankruptcy, so the funds that bought the liability, led by the American investment adviser Evermore managed by Davis Marcus, decided to displace the founders.
From next January 12, José Antonio Martínez Sampedro and Luis Javier Martínez Sampedro will leave their positions as president and vice president of the Board of Directors.
Di Loreto was part of the company until 2011, when he retired and founded the consultancy specialized in the gaming business G3M Partnersse. Seven years later, he returned to Codere to serve as the company's Global CEO.
A long experienced executive, Di Loreto worked in multinationals and large companies in Argentina such as Arthur Andersen, Pepsi, Bunge, Molinos and Grupo Clarín. The taking of control includes the designation as CFO of Alejandro Rodino, partner of Di Loreto in his new consultancy. Rodino is another former Codere who oversaw the company's operations in Panama and Colombia, with a previous step by a boutique firm on Wall Street.
Codere was founded in 1980 in Madrid and achieved strong concessions in Mexico and Argentina. Recently, José Antonio Martínez Sampedro had signed an exclusive betting agreement with Spanish football team Real Madrid.
Source: GMB / Radio Mitre
