Codere, a top gaming firm, has named Luis Villalva as its new Chief Financial Officer. Villalva takes the place of Oscar Fernandez de Liano, who resigned for personal reasons.
Villalva brings a wealth of experience to the position, having previously served as CFO at Grupo Deoleo, a major olive oil manufacturer. He also spent over 17 years at PwC, where he worked in auditing, transaction services, and business recovery.
Codere is certain that Villalva’s expertise will be vital in bolstering the company’s financial standing and investor relations. This appointment arrives at a critical juncture for Codere, as the company aims to solidify its ventures and generate value in the marketplace.
Villalva’s appointment follows the recent naming of Gonzalo Iglesias as CEO, indicating a period of substantial change and expansion for Codere.
In his new role as Chief Executive Officer, Higuero will oversee the execution of Codere’s strategic growth initiatives in its primary operational territories.
Codere also welcomed Michal Elimelech to its board of directors in June.
These leadership adjustments come on the heels of Codere’s online announcement of a reduction in net losses during the first quarter.
Codere experienced year-over-year expansion across all its operational regions in the three-month period ending March 31. Each regional operation witnessed a substantial increase in income.
Overall revenue surged by 54.9% compared to the same period last year. Spanish revenue climbed by 39.4%, while Mexican revenue soared by 76.0% and Colombian revenue rose by 53.3%.
The adjusted EBITDA loss improved significantly from €13.2 million to €2.3 million, while the net loss decreased dramatically from €10.1 million to €1.1 million.
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