Includes purchase of Thunderbird Resorts' share of six casinos in Panama

Spanish Gaming group Codere said that it will pay between US$38 million and $40 million for Thunderbird Resorts’ 63 percent share in six casinos in Panama.

Codere said the purchase of the properties, which operate under the Fiesta Casino brand, was pending approval in Panama.

Codere also recently acquired 67.3% of several gambling entities in Mexico owned by Caliente, one of the country’s largest operators.

The acquisitions are part of the restructuring of some US$175 million of debt Caliente had with Codere, which said it will issue €100 million of bonds to fund them.