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The two companies signed a memorandum of understanding and outlined plans in June of this year to become the joint forerunners in Spain's sportsbetting market. This way they will be capitalising on Codere's established bingo, horsetrack and related betting operations in Spain and South America.
Chief Executive of William Hill, David Harding, said in June: "We are very excited about this opportunity. The combination of William Hill's bookmaking expertise and Codere's leadership position in gaming in the Spanish-speaking world creates a very strong team to take advantage of sports betting regulation in Spain."
An approximate of €20 million equally divided between both companies, is the estimated cost of establishing sportsbetting operations in each region.