Zona de Azar Israel – Codere Online Reports Q3 Financials

Israel.- November 16, 2023 www.zonadeazar.com Codere Online, an online gaming operator in Spain and Latin America, has released its financial results for the third quarter and nine-month period ended September 30.
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Total revenue was €41.1m in Q3 2023, while net gaming revenue was €43.2m in the period, 42 per cent and 41 per cent above those from Q3 2022, respectively.

Mexico revenue was €18.8m in Q3 2023, while net gaming revenue was €21m in the period, 63 per cent above Q3 2022. Spain revenue (and net gaming revenue) reached €18.9m in Q3 2023, 27 per cent above Q3 2022.

Aviv Sher, CEO of Codere Online, stated: “We’re very pleased with our performance in the third quarter and to be presenting another set of impressive results.

“This quarter we not only posted significant net gaming revenue growth of 41 per cent to €43m, but also took a significant step in our path to profitability with break even adjusted EBITDA in the period.

“It was a solid quarter for sports betting, with the return of the major sporting events, but also for our casino product, which contributed 58 per cent of our revenue in the period.”

Edited by @pererarte   www.zonadeazar.com