Former Minister signs for the bookmaker Codere
The casino lobby and bookmakers have not been slow to react. Rafael Catalá, former Minister of Justice of the Popular Party government, has signed with Codere. The step can be understood as a response to the gambling legislation promoted by the Ministry of Consumer Affairs, headed by Alberto Garzón. Is this opening a channel for dialogue?
Former Minister of Justice Rafael Catalá will be Codere's new external advisor in charge of institutional relations and mediating with political parties in order to create a favorable framework for the sector. The passage is not without risks. ©AbsolutVision/Pixabay
In the halls of the government and the Congress of Deputies there will be a familiar face. The former Minister of Justice in the government of Mariano Rajoy, Rafael Catalá Polo, joins the gaming operator Codere as an external advisor . The Spanish company is confident that its political past will help them navigate an unfavorable legislative framework.
The former politician and high Spanish official, born in Madrid in 1961, had already served as general secretary of Codere until 2011 . A law graduate, he has been involved in politics since an early age, holding positions in the Ministry of Health and Consumer Affairs, Education and AENA.
In September 2014 he was appointed Minister of Justice in the government then chaired by Mariano Rajoy, a position he held until 2018. It has been the first democracy minister to be flunked by the Congress of Deputies for obstructing the investigations into the corruption of the Spanish prosecutor's office. Now, sign up for Codere.
From the Spanish company, which has been seen lately involved in many scandals , the confidence is expressed that Rafel Catalá can help them mediate with institutions and political parties as an institutional relations advisor. A position created ex-professional and that responds to the new situation created by the Ministry of Consumption and the Unidas Podemos party, the coalition to which the new Minister Alberto Garzón belongs.
The new legislation that regulates gambling advertising and sports betting has raised blisters on an industry that has viewed with suspicion the appointment of the new Minister of Consumption, with competencies in the gaming and betting sector.
In the face of increasing criticism of the general press is echoing , the appointment of Rafael Catalá by Codere purports to be a nod to the dialogue with political formations they know the ex-minister well. The objective is to create a favorable framework in parliament in the face of the recent legislative movements that are affecting the sector.
However, the appointment is not without risks. Codere has been in the spotlight for their missteps, especially in Latin America. That the new adviser has been a minister disapproved by the Congress of Deputies, does not help either. We'll see what he can give of himself.
Turbulent times for Codere
As we reported in previous editions, Codere has been involved in financial scandals due to the diversion of assets in its Latin American branches . Its expansion across the continent has been full of missteps .
Although the results in the last year pointed to a rebound of the company, having managed to stop the losses, the instability of the Argentine economy with the devaluation of the peso has meant a major setback. One is calculated income reduction of 6% for the group due to the poor performance of the division in the South American country.
From the company they have pointed out, however, that things are not going as bad as some media paint them. Codere Mexico has experienced great growth , and the online operator in the Spanish market has also had net profits.
Looking at things like this, it is not at all strange that from the group they have decided to incorporate an experienced in Spanish politics like Rafael Catalá. The former minister will be a key piece for the refloat of a company that does not want the new regulation undertaken from the Ministry of Consumption to bring them more instability.
