Codere Online, a leading online gaming operator in Spain and Latin America, has released its financial results for the third quarter ended September 30, 2022.
Total revenue was €28.9m, 51 per cent above Q3 2021, while net gaming revenue was €30.6m in the period, 54 per cent above 2021.
Mexico revenue was €11.4m, 80 per cent above 2021, while Mexico net gaming revenue was €12.9m in the period, 82 per cent above 2021.
Spain revenue (and net gaming revenue) reached €14.9m, 29 per cent above 2021, which was partially impacted by marketing restrictions implemented in 2021.
Moshe Edree, CEO of Codere Online, said: “We are reporting a strong set of results in the third quarter of 2022, with net gaming revenue growing 54 per cent versus the same period last year on the back of stronger than expected results in our casino business.
"Performance in Mexico was particularly strong, with net gaming revenue up by 82 per cent in the quarter. Spain also exceeded our expectations with a 29 per cent growth despite the marketing restrictions currently in place.”
He added: “Given our strong results in Mexico and its significant growth potential, we will continue prioritising investment in this market going forward.”
