Mexico, Spain revenues lead Codere push

Codere has reported a 70 per cent increase in total revenue year-on-year, with Spain and Mexico both providing boosts in Q4 2022.

Total revenue was €35.6m for the final quarter of 2022, while net gaming revenue was €37.7m. Both figures were 70 per cent up on Q4 2021.

In Mexico, Q4 revenue was €14.5m and net gaming revenue was €16.3m, more than double the Q4 2021 efforts.

And in Spain, Q4 revenue and net gaming revenue reached 42 per cent above Q4 2021, at €17.8m.

Overall 2022 net gaming revenue, meanwhile, was €122.9m, 48 per cent above 2021.

Moshe Edree, CEO of Codere Online, said the results were “better than expected” and that the World Cup “undoubtedly” played a “significant” role in customer retention and acquisition.

Edree added that Codere is making “significant progress” towards starting operations in several new regions in Argentina throughout 2023.