Spain’s gambling giant Codere has revealed a sharp increase in activity in Latin America, where much of its business is based.
Codere Online said that in its third quarter total net gaming revenue was €20.2m, bringing the total for the year to €61.9m. In Mexico net gaming revenue was up 26 per cent at €7.1m compared with €5.6m in the same quarter of last year.
The company is forecasting total net gaming revenue for the year of around €81 to €86m.
Meanwhile, the company reports that the Spanish gaming regulator has granted its request for a 10-year extension on its two general online gaming licences in Spain for sports betting and other games. This would take it through to the end of May, 2032.
Results from individual markets for the quarter showed that in Spain net gaming revenue was €11.6m, down six per cent, while the Mexico figures showed a strong revival. In Colombia revenue was €900,000, up eight per cent, but other revenues fell by 25 per cent from €900,000 to €700,000.
Codere Online launched in 2014 offers online sports betting and online casino facilities in Spain, Italy, Mexico, Colombia and Panama.
