Codere Online has raised its guidance for 2023 and reiterated 2024 projections following a quarter which saw strong growth except its core markets, with the notable exception of Colombia. Group-wide revenue for the three months ending 30 September stood at €43.2m (€30.6m), an increase of 41%, with revenue from the Spanish and Mexican markets rising by 27% and 62% respectively …
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Codere Online positive of 2024 cash flow following Q2 growth spurt
Codere Online continued its robust momentum in Q2 trading as strides were made across its European and Latin American active markets. The Nasdaq enterprise, which focuses on Spanish-speaking betting markets, reported total revenue growth of 35% year-on-year to €37m (Q2 2022: €34m), with a similar uptick of 34% for net gaming revenue to €39m (€26m). This enabled the company to …
Read More »Codere Online eyes 2024 positive cash flow after Q1 2023 revenue growth
Codere Online has reported revenue growth across its three core markets, with the increase in income enabling the Spanish markets-focused operator to further reduce its net losses. Group wide revenue for the first quarter of the year rose 57% to €37.6m (Q1 2022: €23.9m), whilst net gaming revenue increased 55% to €39.5m (€25.5m). These respective growth rates cut the firm’s …
Read More »Codere Online: Pursuing profitability after a successful 2022
Upon completing its first full year as a NASDAQ-listed business earlier this year, Codere Online made two key announcements to its new investors. These were that the firm broadly achieved its 2022 growth targets – reporting a rise in revenue of 48% to €123m- and that CEO Moshe Edree would be replaced in the leadership role by COO Aviv Sher. …
Read More »Codere Online confirms CEO departure as Nasdaq year-1 targets are matched
Codere Online has announced that Moshe Edree has chosen to step down as CEO of the Global Nasdaq Spanish online gambling group. The disclosure follows Codere Online announcing its Q4 results, which saw the company complete its first full-year trading as a Global Nasdaq business. A ‘better than expected’ Q4 trading period saw Codere Online generate period revenues of €34m, …
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