Codere completes business combination with DD3 and appoints new Chairman

By Gambling Insider

Codere Online has announced the finalisation of its previously announced business combination with DD3 Acquisition, as well as the appointment of Patrick Ramsey as Director, Chairman of the Board of Directors and Member of the Audit Committee.

The ordinary shares and warrants of Coidere Online Luxembourg are expected to be trading on the Nasdaq Capital Market on 1 December 2021, under the symbols “CDRO” and “CDROW."

Codere Online is the first online gaming operator in Latin America to become publicly listed in the US.

Ramsey was nominated by both Codere and DD3 Sponsor Group, as the Industry Expert Independent Director.

With more than 20 years of experience in both casino operations/management and casino gaming technology, Mr Ramsey is the latest and final addition to the Board of Directors of Codere Online, which is now composed of four directors nominated by Codere and two independent directors nominated by DD3 (in addition to the newly appointed Mr Ramsey).

Moshe Edree, Managing Director of Codere Online, commented: “We are very excited to have completed this transaction after months of hard work, and look forward to deploying the funds obtained to deliver on our mission to become one of the leading online gaming and sports betting operators in Latin America.”

Vicente Di Loreto, CEO of Codere Group, said: “The closing of this transaction, which follows the completion of the recent financial restructuring of Codere Group, will provide Codere Online with the structure and resources needed to be successful in the high growth and rapidly changing online gaming sector.”

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