From GlobeNewswire: 2025-05-16 07:00:00

Codere Online reported Q1 2025 revenue of €54.3 mm, with net gaming revenue of €57.0 mm, up 8% from Q1 2024 in constant currency terms. Mexico revenue was €27.6 mm, with net gaming revenue of €30.5 mm, a 15% increase. The company had a net loss of €0.7 mm. Their cash position was €41.8 mm as of March 31, 2025.

The CEO of Codere Online, Aviv Sher, noted the company’s strong start in 2025, with net gaming revenue reaching €57.0 mm in Q1, an 8% increase from the previous year. In Mexico, net gaming revenue grew 15% to €30.5 mm, despite currency devaluation. The CFO, Oscar Iglesias, highlighted a 31% growth in active customers in Mexico.

Codere Online reaffirmed its 2025 net gaming revenue outlook of €220-230 million and Adj. EBITDA outlook of €10-15 million. The company repurchased $0.5 million of shares under a $5.0 million share buyback plan. Compliance with Nasdaq listing requirements was achieved, with the 2024 annual report filing and plans to regain compliance.

Codere Online will host a conference call to discuss results and provide updates at 8:30 am US Eastern Time on May 16, 2025. The company operates in Spain, Mexico, Colombia, Panama, and Argentina. Codere Group, the parent company, has a presence in Europe and Latin America, offering entertainment and leisure services.



Read more at GlobeNewswire:: Codere Online Reports Financial Results for the First