Codere Group, through its Italian arm Operbingo Italia, has just sealed the deal to acquire 70% of Codgames, a company that runs over 600 amusement with prizes (AWP) and video lottery terminals (VLT) in Calabria. The Manna family, who founded Codgames, will keep hold of the remaining 30%.
According to a translated statement from the Spanish online sports betting and casino operator, the move is a big step forward in its long-term growth plan for the Italian market, where it’s been active for over two decades. Bringing Codgames into the fold is expected to boost Codere’s operational footprint and marks its first big push into Calabria, a southern region seen as full of growth potential.
🚀 Codere refuerza su presencia en Italia tras adquirir el 70% de Codgames, consolidando su red en el sur del país.https://t.co/B2yazQay3G
— CODERE (@GrupoCodere) April 15, 2025
Codgames acquisition by Codere ‘opens new doors’
Alejandro Pascual, Codere’s COO in Italy, said: “This acquisition represents an important step in our territorial expansion plan in Italy. Codgames embodies the values we look for in our partners: professionalism, strong local roots, and a commitment to the development of the sector.
“We are confident that this alliance opens the door to new opportunities and strengthens our long-term joint project.”
Armando Manna, a new Codere partner and a long-standing figure in the region’s industry, added: “We’re proud to join a group like Codere, which has shown not only solid expertise and reliability but also deep respect for local operators.
“We’re confident that this partnership will help us successfully face future challenges and continue bringing value to our community.”
ReadWrite has previously reported that retail gambling is one of the biggest money-makers in Italy’s gaming scene. In 2024, it pulled in a massive €16.5 billion ($18.8 billion) in Gross Gaming Revenue (GGR) out of a total €21.5 billion ($24.4 billion). This translates into €10.2 billion ($11.6 billion) in tax revenue.
In comparison, online gambling brought in just €1.3 billion ($1.5 billion) in taxes, which shows that brick-and-mortar still rules the game when it comes to the bottom line.
Featured image: Canva
