Codere Online narrows loss, improves cash flow in second quarter

David McKee

31 July 2025 at 2:30pm UTC-4

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Codere Online, a purveyor of igaming and sports betting to Spanish-speaking nations, reduced its second-quarter loss from €3.7 million (US$4.23 million)1 EUR = 1.1423 USD
2025-07-31Powered by CMG CurrenShift to €2.4 million (US$2.74 million)1 EUR = 1.1423 USD
2025-07-31Powered by CMG CurrenShift year over year. It also widened its cash flow from €700,000 (US$800,000)1 EUR = 1.1423 USD
2025-07-31Powered by CMG CurrenShift to €2.1 million (US$2.40 million)1 EUR = 1.1423 USD
2025-07-31Powered by CMG CurrenShift.

Revenue declined 1% to €51.4 million (US$58.7 million)1 EUR = 1.1423 USD
2025-07-31Powered by CMG CurrenShift, which the company blamed on the devaluation of the Mexican peso. Accounting adjustments showed 30% revenue growth.

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Mexico remained the primary source of Codere’s revenue, at €29 million (US$33.1 million)1 EUR = 1.1423 USD
2025-07-31Powered by CMG CurrenShift during the quarter. This was compared to €21.8 million (US$24.9 million)1 EUR = 1.1423 USD
2025-07-31Powered by CMG CurrenShift from Spain and €3.7 million (US$4.23 million)1 EUR = 1.1423 USD
2025-07-31Powered by CMG CurrenShift from all other Latin American countries combined, a 16% drop-off.

Active monthly users in Spain declined to 49,700 but vaulted 36% in Mexico, reaching 84,600. All other users plunged to 20,800, down 35%.

Codere restated earnings guidance of €220 million (US$251 million)1 EUR = 1.1423 USD
2025-07-31Powered by CMG CurrenShift to €230 million (US$263 million)1 EUR = 1.1423 USD
2025-07-31Powered by CMG CurrenShift and cash flow of €10 million (US$11.4 million)1 EUR = 1.1423 USD
2025-07-31Powered by CMG CurrenShift to €15 million (US$17.1 million)1 EUR = 1.1423 USD
2025-07-31Powered by CMG CurrenShift. US$700,000 worth of shares were repurchased out of a larger authorization of US$5 million.