Codere SA has notified investors that Francesco Quacquarelli has been appointed as Chief Security Officer of the Spain and LatAm markets gambling group. The position has been authorised by new Chief Executive Gonzaga Higuero, who leads Codere’s ‘2024-to-2027’ corporate recovery strategy to return the heritage Spanish gambling group back to shareholder profits. An expert in developing and securing IT systems …
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Grupo Codere SA has appointed PKF Attest to serve as the principal auditor of the gambling group in the Spanish and South American markets. The Spanish unit of PKF Attest will replace EY, which in 2023 severed ties with Codere, ending its seven-year tenure as an independent auditor, having overseen audits on consecutive debt refinances needed to maintain Codere’s embattled …
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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 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 …
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Codere Online has moved to strengthen its leadership team with the appointment of former 888 Holdings Head of US Marketing Michal Elimelech to its board of directors. She replaces Oscar Iglesias as one of four directors nominated by the group holding company Codere Newco, although Iglesias will continue in his role as Chief Financial Officer of Codere Online. Elimelech is …
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Grupo Codere closed Q1 2023 in a strong financial position according to the firm’s latest quarterly trading update, with Latin American markets key growth drivers. The multinational gambling group reported an year-on-year revenue uptick of 19% to €350m (Q1 2022: €283m), with adjusted EBITDA up 20% to €65m (€52m) with a margin of 19%, one percent higher than the year …
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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 …
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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. …
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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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The US Securities and Exchange Commission (SEC) has been informed by Nueva Codere of a cyberattack to its subsidiary Codere Online, resulting in losses of €744,000. The admission to the SEC outlined ‘weaknesses in internal controls’, which allowed hackers to access Codere Online’s email systems. The cyberattack saw hackers pose as ‘Codere Online agents’, who sent ‘manipulated invoices’ to various …
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