05-09-2007 Codere and William Hill to begin sports betting operations in Spain in late 2007

Victoria, the joint venture between Spanish gaming and betting operator Codere and British peer William Hill, is expected to begin sports betting operations in the Madrid region in late 2007 and in the Basque region in 2008.

Codere, which announced a 23% increase to EUR 9.7m in second quarter earnings from total operating revenues of EUR 221.0m, said it expects the cost of development of sports betting operations in each region to be approximately EUR 20 million, which will be shared equally with William Hill.

In other news, the Spanish Gambling Addiction Association asked Real Madrid and Sevilla to stop selling to children team jerseys showing the gambling logos of Bwin and 888.com.