Codere Online net gaming revenue increases 5% in fourth quarter
Spanish and Latin American igaming operator Codere Online brought in net gaming revenue of €52.6 million (US$55.0 million)1 EUR = 1.0465 USD
2025-02-21Powered by CMG CurrenShift in the fourth quarter, up 5% from the fourth quarter of 2023.
Of the fourth-quarter revenue, most – €25.1 million (US$26.3 million)1 EUR = 1.0465 USD
2025-02-21Powered by CMG CurrenShift – came from Mexico, almost the same as fourth quarter 2023.
Spanish igaming added €22.8 million (US$23.9 million)1 EUR = 1.0465 USD
2025-02-21Powered by CMG CurrenShift in revenue, up 10% from the year prior.
Revenues from Codere Online’s other territories, including Colombia, Panama and Buenos Aires in Argentina, contributed €4.6 million (US$4.81 million)1 EUR = 1.0465 USD
2025-02-21Powered by CMG CurrenShift, up 10%.
Mexico saw the most monthly active players, with 68,900 in the fourth quarter, up 17% compared to the year prior. Spanish monthly active players increased by 3% year-on-year, while other territories saw monthly active players fall by 9%.
“We delivered another solid quarter, with net gaming revenue reaching €52.6 million (US$55.0 million)1 EUR = 1.0465 USD
2025-02-21Powered by CMG CurrenShift, a 5% increase compared to the fourth quarter of 2023,” Aviv Sher, Codere Online CEO, said in a statement. “In Mexico, net gaming revenue was flat at €25.1 million (US$26.3 million)1 EUR = 1.0465 USD
2025-02-21Powered by CMG CurrenShift, driven by the significant devaluation of the Mexican peso. On a constant currency basis, our growth in Mexico would have been 14%. Meanwhile, Spain continued to perform well, with net gaming revenue rising 10% to €22.8 million (US$23.9 million)1 EUR = 1.0465 USD
2025-02-21Powered by CMG CurrenShift.”
Codere Online launched in 2014 and was the first gaming operator in the LatAm market to be traded on the Nasdaq in December 2021.
Codere Online received a notice from Nasdaq in November 2024 requesting it provide documents from 2023 or face delisting. However, Codere Online received an extension on this demand on 13 February.
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