Wall Street Journal During Spain’s economic boom of the past decade, one of its largest gambling enterprises followed the lead of other Spanish corporate heavyweights and piled up debt to expand in Latin America. The wager hasn’t paid off. Regulatory setbacks in Mexico and Argentina and a recession that is shrinking its market at home have Codere SA CDR.MC +2.44% scrambling to restructure a growing debt burden. The Madrid-based company’s debt payments due in June are superior to its €88.1 million ($117.2 million) valuation on the Spanish stock exchange, highlighting a credit crunch that is causing a sharp increase in corporate…