March 3, 2021

Former Minister Pío Cabanillas leaves the board of directors of the gambling group Codere


Former Minister Pío Cabanillas is no longer a Codere director. The Spanish gambling multinational has informed the National Securities Market Commission (CNMV) this Thursday of the cessation of Cabanillas as representative of the Masampe SL society, of the group’s founders, the Martínez Sampedro family. His replacement is Gerardo Sánchez Revenga, former Real Madrid manager and president of the Association of Contractors with Public Administrations (AESMIDE).

Former Minister Pío Cabanillas, the latest face of the links between the PP and the Codere gaming group

Former Minister Pío Cabanillas, the latest face of the links between the PP and the Codere gaming group

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The former spokesman minister for José María Aznar, who had renewed his position at Codere at the July meeting until 2022, was one of the members of the Appointments and Remuneration committee, the body that decides the emoluments of the group’s board of directors. Until September the directors of Codere received 939,000 euros, of which Cabanillas 150,000 euros corresponded to him, the same figure as in the same period of 2019, in a period in which the betting company multiplied its losses (178 million euros) after its income collapsed due to the pandemic.

The son of the former Francoist minister (later Minister of the UCD with Adolfo Suárez) Pío Cabanillas Gallas and patron of the Faes foundation chaired by Aznar had been appointed a Codere director in April 2016, although his relationship with this company has been going back.

Codere already announced his appointment as “independent” director at the May 2008 meeting, but a few months later the then Secretary General and Secretary of the Board of Directors of Codere, Rafael Catalá, informed the CNMV that Cabanillas had decided not to accept the position . The reasons were not explained. Cabanillas billed Codere 372,000 euros in 2017 through a company of which it is the majority shareholder, through a service provision contract that the current management of the group canceled at the beginning of 2019.

The PP and the game

The former director of Acciona was one of the faces linked to the PP in the gaming sector, together with Catalá himself, a Codere manager before his return to public administration in 2012 and now back in the group, along with other names such as Andrés Ayala (former PP deputy and former head of the Anti-Corruption Office of this party, who advises the Murcian group Orenes), or the lawyer and former leader of this party in the Madrid town of Torrelodones, Javier Laorden, who is a director of the Galician group Egasa, owner of the Luckia betting house.

The substitute for Cabanillas as proprietary director of Codere on behalf of Masampe has a degree in Law from the University of Granada and belongs to the official bodies of State Accountants, Public Finance Management and Superior State Auditors, in addition to holding the title of Chartered Accountant.

Sánchez Revenga, who was treasurer of Real Madrid (of which Codere is a sponsor) in the 90s, during the presidency of Lorenzo Sanz, has held the position of Controller in different State Administrations and Institutions. He has been president of the Institute of Public Auditors of Spain and President of the Federation of Associations of the Higher Bodies of the General State Administration (FEDECA). Since May 2009 he is President of AESMIDE. This association founded in 1984 “has as its fundamental objective the collaboration between the Public Administration in general and the Ministry of Defense in particular, with the private company,” according to its website.

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