Codere Online has submitted an appeal against a delisting notice it has received from the Nasdaq Stock Market.
In a statement on its website, the online operator has said it received a staff determination letter from Nasdaq’s Listing Qualifications Department notifying the company of the delisting as it hadn’t filed its Form 20-F for the year ended December 31, 2023, in accordance with the continued Listing Rule 5250(c)(1), the Public Reports Rule.
Explaining the filing delay, Codere Online stated: “As previously reported, the company’s delay in filing its Form 20-F is due to the fact that the finalisation of the audit of our financial statements for the three years ended December 31, 2023, has taken longer than expected following the engagement of our new independent registered public accounting firm in March 2024.”
Codere Online also referenced the appeal process, noting that it has formally requested a hearing to appeal the delisting determination and a further stay of suspension of trading during the hearing process.
Hearings usually take place around 30-45 days after the date of the hearing request.
“A request for a hearing regarding a delinquent filing automatically stays the delisting of the company’s securities from Nasdaq through the duration of the hearing,” noted the company.
“It also automatically stays the suspension of trading of the company’s securities for a period of 15 days from the date of the request. The letter also states that when the company requests a hearing, it may also request a further stay of the suspension of trading through the duration of the hearing process.
“Earlier today, the company formally requested both a hearing to appeal the delisting determination (the Hearings Panel) and a further stay of suspension of trading through the duration of the hearing process.
“Furthermore, in connection with this stay request, the company submitted materials to Nasdaq to explain why this stay is appropriate, as required by the Hearings Panel. The company has not yet received a determination regarding its request for this further stay of suspension of trading.”
Codere Online added that it “continues to work diligently to complete and file with the Securities and Exchange Commission (SEC) the Form 20-F” and it believes it can, “thereby regaining compliance with the Public Reports Rule, within the extension period the company plans to seek from the Hearings Panel”.
However, the company also stated that if Nasdaq doesn’t grant it further stay, its stock could be suspended from 4th December.
“If the company fails to obtain an extension period from the Hearings Panel, a Form 25-NSE will be filed with the SEC, which will remove the company’s securities from listing and registration on The Nasdaq Stock Market,” Codere Online concluded.
BetMGM has partnered with Push Gaming to bring the online gaming supplier’s slots titles to the operator’s players in several jurisdictions across North America.
To begin with, Push Gaming’s titles will be made available to BetMGM’s players in the Canadian province of Ontario.
However, pending regulatory approval, the operator has plans to expand its partnership with the supplier, becoming the exclusive partner for Push Gaming in the US in 2025.
“Push Gaming’s exciting slots resonate with players and elevate the igaming experience,” commented Oliver Bartlett, VP of Gaming Product and Content at BetMGM.
“We are proud to partner with Push Gaming and add their popular slots to our online casinos in Ontario which offers players a vast variety of over 3,000 titles.”
Push Gaming titles that will be playable for the operator’s customers via the BetMGM Casino include Retro Tapes, Big Bamboo, Razor Returns, and Wild Swarm 2, with more titles to be added in the future.
“This is a proud moment for the team at Push Gaming as this partnership is the culmination of an incredible amount of hard work,” added Fiona Hickey, Chief Business Development Officer at Push Gaming.
“Having some of our biggest games available to BetMGM players, one of the industry’s largest names, is a milestone in our evolution as a developer and we’re incredibly excited at the potential of our partnership.
“As well as being committed to creating the best slots the industry has to offer, it is also our priority to ensure that content is available to as many players as possible, in tandem with the very best operators, globally.
“Working with BetMGM fits those goals perfectly and the ensuing long-term closer cooperation across North America that this will bring gives us an amazing foothold in key regions.”
