Tag Archives: Codere online

Codere appoints PKF Attest to audit 2023 accounts

SBC News Codere appoints PKF Attest to audit 2023 accounts

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 expects positive 2024 from Spanish and Mexican success

Codere Online

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 

SBC News 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 …

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Codere Online adds ex-888 marketing head Michal Elimelech to board

Codere Online

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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Positive LatAm developments drive Codere’s Q1 2023 growth

map of Latin America

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 eyes 2024 positive cash flow after Q1 2023 revenue growth

Codere Online

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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Codere Online confirms CEO departure as Nasdaq year-1 targets are matched

Codere Online

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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Codere admits ‘system failings’ following €700K hack

Codere Online

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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Codere Online cites year-1 progress despite widening losses

SBC News Codere Online cites year-1 progress despite widening losses

Codere Online has reflected on “stronger than expected results” across online casino amid a “strong set of results” through Q3, despite net loss soaring to 2022 highs through this latest reporting period. Revenue through July to September soared 51 per cent year-on-year to €28.9m, a figure that also represents a 5.47 per cent uptick from Q2 2022’s €27.4 as well as …

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