Industry News

Codere Online Reports Financial Results for Third Quarter of 2021

Published

3 years ago

November 12, 2021

Niji Narayan

Reading Time: 2 minutes

Codere Online has released its financial results for the quarter ended September 30, 2021.

In June 2021, Codere Online entered into a definitive business combination agreement with DD3 Acquisition Corp. II (DD3), a publicly-traded special purpose acquisition company, that upon consummation will result in Codere Online becoming a public company.

Highlights

European Gaming Congress 2024 (Warsaw, Poland)

Total net gaming revenue was €20.2m in the quarter and €61.9m in the year to date period.
Mexico net gaming revenue was €7.1m, an increase of 26% versus €5.6m in Q3 2020.
Total net gaming revenue outlook for 2021 of between €81m and €86m maintained.
Spanish gaming regulator has granted the Company’s request for a 10-year extension (through May 31, 2032) of two general online gaming licenses in Spain (sports betting and other games).
Company expects the business combination will be completed during the week following the special meeting of DD3’s stockholders, which is scheduled to take place on November 18, 2021.

Moshe Edree, Managing Director of Codere Online, said: “Our third quarter results reflect the strong revenue trends in Mexico, with a 26% year-on-year increase in our total net gaming revenue. This performance was partially offset by a decline in net gaming revenue in Spain due to the changes in regulation that came into effect starting in May, with Q3 2021 being the first full quarter of operations in which the ability to offer player bonuses and other marketing activities has been curtailed. However, we are adapting well to these restrictions and believe that there continues to be opportunity to grow our market share in Spain, as we have since the onset of these restrictions, which put operators that can leverage a retail footprint at a competitive advantage.”

Mr. Edree added: “In addition to the Rayados (Mexico) and River Plate (Argentina) sponsorships that we announced in July, we have recently announced a further 5 year extension (through the 2025-26 season) of our agreement with Real Madrid. This agreement will now cover over twenty countries throughout Latin America which we believe will boost our expansion in the region in furtherance of our ambitious growth targets.”

Oscar Iglesias, Chief Financial Officer, said: “Despite the anticipated regulatory headwinds in Spain, we continue to be excited about the market and have recently been granted a 10-year extension (through May 31, 2032) of our two general online gaming licenses (sports betting and other games), which were otherwise schedule to expire on June 1, 2022. More generally, the business continues to perform in line with our expectations and we are on track to meet our net gaming revenue outlook for 2021 of €81 to €86m.”

Mr. Iglesias further added: “We have made significant progress on the business combination with DD3, which we expect will be approved in its upcoming shareholder meeting on November 18, 2021. We are looking forward to closing the transaction and having the funding needed to execute our marketing plan and to delivering what we expect to be significant growth in this business over the coming years.”

Industry News

CT Interactive Appoints Dimitar Raychev as Technical Support Specialist for Online Services

Published

5 days ago

March 7, 2025

Niji Narayan

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CT Interactive has appointed Dimitar Raychev as Technical Support Specialist for Online Services.

Over the years, Dimitar has worked with various platforms such as AWS, Active Directory and SAP, allowing him to acquire deep knowledge and skills in managing infrastructures and automating processes. Thanks to his expertise, he has helped many organisations optimise their systems and maintain high levels of efficiency.

“We are thrilled to welcome Dimitar Raychev to the CT Interactive team, where he will take on the role of Technical Support Specialist for Online Services. Dimitar brings extensive experience in providing technical support to global clients, successfully diagnosing and resolving issues with software, hardware and network systems. His commitment to quality service and the technical skills he possesses make him a valuable asset. We look forward to leveraging his knowledge and continuing to provide our clients with impeccable service and support,” the company said.

The post CT Interactive Appoints Dimitar Raychev as Technical Support Specialist for Online Services appeared first on European Gaming Industry News.

Industry News

IGT Wins Seven Awards at the 2025 EKG Slot Awards Show

Published

6 days ago

March 6, 2025

Niji Narayan

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Reading Time: 2 minutes

International Game Technology has won seven awards at the 2025 EKG Slot Awards Show. The EKG Slot Awards Show is a performance-based, annual programme produced by Eilers & Krejcik Gaming (EKG) that recognizes excellence in slot game development in the casino gaming industry. IGT won the most awards of any gaming industry supplier, taking home trophies for seven of the program’s 25 categories.

IGT won the following categories at the 2025 EKG Slot Awards Show:

• Top Performing NEW Premium Game: Tiger and Dragon Cash on Reels

• Most Innovative Land-Based Game: Tiger and Dragon Cash on Reels

• Top Performing 3rd Party IP Branded Game: Whitney Houston Slots

• Top Performing Game – EMEA: Magic Treasures Dragon

• Top Performing NEW Video Poker/Keno Game: Mega Hot Poker

• Top Performing NEW Online Table Game: Blackjack Poker & Pairs Surrender

• Best Overall Supplier of Online Content: IGT PlayDigital

“IGT winning seven awards at the 2025 EKG Slot Awards Show is a significant achievement that speaks to our performance momentum across multiple product categories and the immense talent and dedication of IGT employees worldwide. We look forward to continuing to help our customers benefit from these strong IGT themes in 2025 and beyond via follow-up games for Tiger and Dragon, Whitney Houston Slots, Magic Treasures and Mega Hot Poker,” said Nick Khin, IGT President, Global Gaming.

“It was exciting to see IGT PlayDigital honored at the 2025 EKG Slot Awards Show in the most esteemed iGaming category, ‘Best Overall Supplier of Online Content,’ and recognized with the ‘Top Performing NEW Online Table Game’ award for Blackjack Poker & Pairs Surrender. Developing and delivering market-leading content and performance tools is a cornerstone of IGT PlayDigital’s strategy and I wish to congratulate the entire team on these remarkable accomplishments,” said Gil Rotem, IGT PlayDigital President.

The post IGT Wins Seven Awards at the 2025 EKG Slot Awards Show appeared first on European Gaming Industry News.

Industry News

AskGamblers Surpasses 700,000 Registered Members

Published

1 week ago

March 4, 2025

Niji Narayan

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AskGamblers hits a new milestone by surpassing 700,000 registered members on the website. Since 2006, AskGamblers provides accurate and reliable information on online casinos, sportsbooks, bonuses and more, with the motto Get the Truth. Then Play.

The website has grown, but not only in numbers. In 2024, AskGamblers introduced a comprehensive sports betting section where users can access sportsbook reviews, live scores, odds calculators and find exclusive deals.

Additionally, AskGamblers hosts the annual AskGamblers Awards, a prestigious event where players can nominate and vote for their favourites in four categories: Best Casino, Best New Casino, Best New Slot and Best Sportsbook, but six additional industry awards are handed out during the gala ceremony.

Dijana Radunović, General Manager at AskGamblers, said: “Reaching the milestone of 700,000 registered players is remarkable. It’s great to see new players coming in daily, but the fact that they remain active is what’s truly special!”

The post AskGamblers Surpasses 700,000 Registered Members appeared first on European Gaming Industry News.