Codere, the Spanish gaming company, has decided to diversify. The group incorporates a new important way to improve their funds. According to some sources, the company is planning the launching of a new chain in the sports betting business with which it would become the first company of such characteristics in Spain.

The intention of the Spanish group is to use the experience that the British market has gathered in this business, through a joint venture with one of the most known companies of the sports betting industry, William Hill.

The main problem that Codere may face is the regulatory holes that exist in Spain concerning this activity and the fact that they change depending on the autonomous legislations. This is a problem that they expect to solve with the Madrid Community, during the next few weeks.

Codere intends to create a new commercial brand in order to carry on this project, even though the name is not going to be made public until the definitive signing of the contract.