{"id":58,"date":"2024-06-12T12:46:25","date_gmt":"2024-06-12T09:46:25","guid":{"rendered":"https:\/\/paydaycasinonodepositbonus.icu\/2024\/06\/12\/codere-online-reports-strong-q2-2023-results-with-significant-revenue-growth\/"},"modified":"2024-06-13T12:17:22","modified_gmt":"2024-06-13T09:17:22","slug":"codere-online-reports-strong-q2-2023-results-with-significant-revenue-growth","status":"publish","type":"post","link":"https:\/\/paydaycasinonodepositbonus.icu\/2024\/06\/12\/codere-online-reports-strong-q2-2023-results-with-significant-revenue-growth\/","title":{"rendered":"Codere Online Reports Strong Q2 2023 Results with Significant Revenue Growth"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/h3vF1stYXcI\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Codere Online experienced a robust second quarter in 2023, achieving a 35% year-on-year surge in revenue, reaching \u20ac37 million (equivalent to roughly $40 million). Mexico emerged as the company&#8217;s leading market, exhibiting particularly impressive expansion.  Total gaming revenue ascended by 34%, hitting \u20ac39.1 million.<\/p>\n<p>Despite recording a net loss of \u20ac1.7 million for the quarter, Codere Online demonstrated substantial progress compared to the \u20ac6.7 million loss incurred during the corresponding period the previous year.<\/p>\n<p>Chief Executive Officer Aviv Sher ascribed the company&#8217;s accomplishments to its emphasis on casino offerings, which now constitute 54% of its revenue. Furthermore, he underscored the company&#8217;s steady results in Spain, where both overall revenue and gaming revenue expanded by 24%, reaching \u20ac17.5 million. <\/p>\n<p>Mexico is quickly becoming a leading market for Codere Online, with overall income there soaring by 58% to \u20ac16.2 million. This remarkable expansion is reflected in their online wagering income, which witnessed a 51% surge, reaching \u20ac18 million. <\/p>\n<p>Colombia also saw positive movement, though at a more moderate 35%, generating \u20ac2.3 million in income. Conversely, their online wagering income experienced a minor decrease of 5%, concluding at \u20ac2.1 million.<\/p>\n<p>Codere Online connects this triumph to robust brand awareness and an enhanced clientele, even with diminished marketing expenditures.  Financial Director Oscar Iglesias emphasized that these elements, coupled with improvements to their product offerings, resulted in a substantial income increase. This manifested as a greater than 50% decline in their adjusted EBITDA deficit for the second quarter, which landed at \u20ac4.5 million.<\/p>\n<p>The organization is surpassing its own projections and now anticipates online wagering income between \u20ac150 million and \u20ac160 million for 2023. This signifies a 7% rise from their prior prediction.<\/p>\n<p>In separate developments, Codere Online appointed Michal Elimelech to their board of directors, replacing Iglesias, who will now dedicate his full attention to his duties as Financial Director. Furthermore, while not directly tied to this quarter&#8217;s outcomes, it&#8217;s noteworthy that Gonzaga Higuero recently assumed the position of Chief Executive Officer for the Codere Group. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Codere Online experienced a robust second quarter in 2023, achieving a 35% year-on-year surge in revenue, reaching \u20ac37 million (equivalent to roughly $40 million). Mexico emerged as the company&#8217;s leading market, exhibiting particularly impressive expansion. Total gaming revenue ascended by 34%, hitting \u20ac39.1 million. Despite recording a net loss of \u20ac1.7 million for the quarter, [&hellip;]<\/p>\n","protected":false},"author":100,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Codere Online Soars: Revenue Up 35% in Q2 2023!<\/title>\n<meta name=\"description\" content=\"Codere Online explodes with a 35% revenue jump in Q2, hitting \u20ac37 million! Mexico leads the charge as gaming revenue skyrockets. 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