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Codere Online Reports Financial Results for the Second Quarter 2023

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  • Total revenue was €37.1 mm in Q2 2023, while net gaming revenue[1] was €39.1 mm in the period, 35% and 34% above those from Q2 2022, respectively.
  • Mexico revenue was €16.2 mm in Q2 2023, while net gaming revenue was €18.0 mm in the period, 51% above of Q2 2022.
  • Spain revenue (and net gaming revenue) reached €17.5 mm in Q2 2023 (24% above Q2 2022).
  • Net loss was €1.7 mm in Q2 2023 versus a net loss of €6.7 mm in Q2 2022.
  • Total cash position of over €45 mm as of June 30, 2023.
  • Increasing full year 2023 net gaming revenue and Adjusted EBITDA outlook to €150-160 mm and negative €15-25 mm, respectively, and reiterating plan to be EBITDA and cash flow positive for the full year in 2024.

Madrid, Spain and Tel Aviv, Israel, August 31, 2023 – (GLOBE NEWSWIRE) Codere Online (Nasdaq: CDRO

/ CDROW, “the Company”), a leading online gaming operator in Spain and Latin America, has released its financial results for the second quarter ended June 30, 2023.

Attached are the main financial and operating metrics of the period.

Aviv Sher, CEO of Codere Online, stated, “We’re glad to present a strong set of second quarter results and to continue building upon the momentum from the first quarter. Our net gaming revenue grew 34% to €39 million, in line with the level from the first quarter despite the seasonal decline in sporting events. Our casino product, which has been a strategic priority for some time, contributed 54% of our revenue in the period”.

Mr. Sher further added, “Mexico posted impressive top line growth of 51% in the second quarter, reaching €18.0 million and surpassing Spain for the first time since launching operations in the country. In Spain, net gaming revenue grew by an equally impressive 24% to €17.5 million.”

Oscar Iglesias, CFO of Codere Online, stated, “We continue delivering strong revenue growth, despite a lower level of marketing investment, on the back of strong brand recognition, higher quality customers and continued improvement in our product offering. This has allowed us to reduce our Adjusted EBITDA loss by more than half to negative €4.5 million in the second quarter.”

Mr. Iglesias further added, “We feel very encouraged by first half results, which continue to exceed our original expectations, and now expect to generate between €150-160 million of net gaming revenue in 2023, a 7% increase at the midpoint versus our prior outlook. In regards to Adjusted EBITDA, we expect to deliver negative €15-25 million, and believe we are well on track to deliver positive EBITDA and cash flow for the full year in 2024.”

Recent Events

Board Member Appointments:

  • In its meeting held on August 30, 2023, our Board of Directors appointed Gonzaga Higuero as a new member, replacing Daniel Valdez as one of five directors nominated by Codere Newco S.A.; o Mr. Higuero was recently appointed CEO of Codere Group and brings an extensive experience in top management positions, leading refinancing processes, turnarounds and acquisitions, both in Europe and Latam;

o The Company thanks Mr. Valdez for his valuable contribution to the Board over his nearly two years of service and for his unwavering support of the Company and its management team;

  • In our Annual General Meeting held on June 22, 2023, Michal Elimelech was appointed as a new member of our Board of Directors, replacing Oscar Iglesias as one of five directors nominated by Codere Newco S.A. Mr. Iglesias will continue working in his current executive role as CFO of Codere Online.

SBC Awards:

We have been invited to participate in the SBC Awards that will take place on September 21, 2023, in Barcelona, and have been nominated in the following categories:o Best affiliate program; o Southern European operator of the year; o Sportsbook operator of the year.

Spanish Retail Withdrawal Fraud:

We recently became aware of a successful fraud committed against the Company in Spain, related to a series of withdrawals totaling €0.5 million made by a customer from his online account in a third-party retail gaming hall (i.e. affiliate). An investigation is underway and the Company will be pursuing a recovery of the misappropriated funds.

Conference Call Information

Codere Online’s management will host a conference call to discuss the results and provide a business update at 8:30 am US Eastern Time today, August 31, 2023. Dial-in details as well as the audio webcast and presentation will be accessible on Codere Online’s website at www.codereonline.com. A recording of the webcast will also be available following the conference call.

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iGaming 2026 starts now: be the first to get Slotegrator’s iGaming trends report

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Slotegrator, a leading iGaming software provider and content aggregator, has published a report forecasting the iGaming trends of 2026. Developed in collaboration with over 50 experts from international companies, the report highlights how technology, regulation, ESG and transparency, and evolving player expectations will reshape the iGaming landscape in the coming year.

The report brings together insights from operators, regulators, affiliates, and marketing leaders across Europe, Latin America, Africa, and Asia. It covers key topics – from upcoming regulatory changes and AI-driven hyper-personalization to new compliance standards, marketing transformations, and the rise of community-based gaming ecosystems.

Readers will learn what to expect from:

  • Regulatory developments in the industry’s most attractive markets.
  • Advances in AI, cybersecurity, biometric KYC, and deepfake detection.
  • New marketing models built on emotional intelligence and data ethics.
  • The role of Web3, stablecoins, and gamified well-being.
  • The growing influence of ESG on the iGaming sector.

The report features practical insights from leading leading companies, recognized industry leaders and award winners, including SiGMA Group, Clarion Gaming, DEVILS, Endorphina, Amigo Gaming, Aviatrix, ZingBrain AI, BGaming, NGM Game, Peter& Sons, CasinoRIX, ICS-digital, top media like iGamingNews, Casino Guru, GamblingTalk, and others, alongside perspectives from top game studios and regional experts.

“The report brings together the key takeaways from our business analytical research and the voices of industry experts who observe market dynamics every single day. Their perspectives give this report its depth and authenticity. At Slotegrator, we value partnership and collaboration above all — this is what allows us to capture the real pulse of the iGaming industry. This document gives companies a valuable head start as they prepare for next year’s shifts,” adds Svetlana Kirichenko, head of marketing at Slotegrator.

The report offers a comprehensive view of what’s next for iGaming — a must-read for anyone shaping the future of the industry. Be among the first to download The iGaming Trends of 2026 from Slotegrator by following this link.

ABOUT THE COMPANY

Since 2012, Slotegrator has been one of the iGaming industry’s leading software and business solution providers for online casino and sportsbook operators.

The company’s main focus is software development and support for online casino platforms, as well as the integration of game content and payment systems.

The company works with licensed game developers and offers a vast portfolio of casino content: slots, live casino games, poker, virtual sports, table games, lotteries, casual games, and data feeds for betting.

Slotegrator also provides consulting services in gambling license acquisition and business incorporation.

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Boomerang Partners has announced a gift auction at their booth during the upcoming SiGMA Europe 2025 in Rome

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Boomerang Partners, an affiliate marketing agency and an Official Regional Partner of AC Milan, is preparing numerous activities for their booth 5046 G at the upcoming SiGMA Europe 2025 in Rome. The main highlight will be a gift auction featuring valuable prizes:

  • Signed Luka Modrić (football legend and AC Milan player) jersey
  • Apple iPhone 17 Pro Max 256GB Deep Blue
  • Ray-Ban | Meta Wayfarer smart glasses
  • Apple AirPods Pro 3

To try their luck in the gift auction, SiGMA Rome participants must visit the Boomerang Partners booth on November 4th and 5th and perform various tasks. For completing them, they will receive special chips of different denominations. The more chips they have, the higher their chances of winning in the auction. Details can be obtained from the hostess at the booth.

The final will take place on November 5th at 4:00 PM. On the same day, Boomerang Partners will announce the winners of their first sports traffic tournament, the Golden Boomerang League, which ran from September 1st to October 31st. All affiliate teams, including current and new partners of the company, who managed to generate 20+ FTDs on the brands from its client portfolio, have qualified for the prize draw. The prize for first place is direct access to the Golden Boomerang Awards 2026. Participants who place second and third will receive an AC Milan Experience package, which includes paid flights, accommodation, and attendance at an AC Milan home match at the famous San Siro Stadium in Milan.

Come to the Boomerang Partners booth, complete simple tasks, get chips, and participate in the gift auction. Extra pleasant surprises are possible. Read the full terms and conditions on the Boomerang Partners website.

About Boomerang

Boomerang Partners is a rapidly growing global marketing agency offering a wide range of services. Boomerang Partners is the Official Regional Partner of AC Milan. In 2024, it launched the inaugural Golden Boomerang Awards — a global tournament for affiliate teams. More than 400 affiliate teams participated in the second season of the tournament in 2025. The agency launched six new products in 2024-2025, contributing to a nearly 1.5-fold increase in product users.

The agency’s client portfolio contains 13+ brands offering affiliate and entertainment services across 40+ markets in compliance with local regulations. These products provide personalized bonuses and 24/7 multilingual support.

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Week 44/2025 slot games releases

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Here are this weeks latest slots releases compiled by European Gaming

Spinomenal has unearthed its brand new addition to the Egyptian Empire series, Egyptian Rebirth – Hold & Hit. The electrifying game takes players deep within treasure-laden tombs etched with hieroglyphics across ancient columns. Players must weave their way past statues of forgotten gods on the hunt for other worldly riches.

Spinomenal unearths its new hit: Egyptian Rebirth - Hold & Hit

Amusnet brings a burst of color and excitement with Bulky Fruits Buy Bonus, a fresh twist on the classic fruit theme. This lively new release packs plenty of flavor, energy, and fun, delivering nonstop entertainment and juicy surprises at every turn.

A Splash of Color and a Burst of Fun with Amusnet’s newest release - Bulky Fruits Buy Bonus

TaDa Gaming, a leading provider of premium casino content, has released 3 Coin Golden OX, the newest addition to its popular TriLuck series. Played on a 5×3 grid with 243 ways to win, 3 Coin Golden OX merges elegant visual design with dynamic gameplay.

PG Soft has released its 3-reel, 1-row Egyptian throwback title, Pharaoh Royals. Unfolding under the glowing constellations of ancient Egypt, Pharaoh Royals delivers a classic slot experience sparkling with mysticism and dynamic gameplay, featuring multipliers of up to x10 and an atmospheric soundtrack.

PG Soft releases throwback title Pharaoh Royals

Slotland invites online casino players to step into the Castle of Horror — if you dare. Just in time for the spooky season, the new Castle of Horror slot game throws open its creaky gates and is treating players to a Halloween bonus feast. New and existing players can grab a 105% Match BOOnus and Free Chips.

Play’n GO invites players to traverse a realm shaped by sin and consequence in Divina Commedia I Nove Cerchi, a slot rooted in Dante Alighieri’s legendary Divine Comedy. The game opens in shadow. Dante stands at the edge of the inferno, blocked by monstrous figures – embodiments of human vice.

SlotMatrix has launched 1001 Nights of Riches, an enchanting new slot inspired by the legendary tales of Scheherazade. This vibrant adventure takes players deep into a world of treasures, magic lamps, and endless riches waiting to be discovered.

SlotMatrix spins a tale of treasures with 1001 Nights of Riches release

BGaming is proud to announce the release of Merge Up™ 2, the long-awaited sequel to the hugely popular cluster-pay title, Merge Up™. The new release elevates the original’s gameplay mechanics and design, using data-driven insights and research to give players exactly what they want.

Land Colourful Cluster Wins in BGaming’s Merge Up™ 2

Amusnet has released 40 Fruits and Gold, the newest addition to its vibrant online casino lineup. This game brings together the juicy charm of classic fruit slots and the shimmering sparkle of gold for a play experience that’s as refreshing as it is rewarding.

Amusnet Releases 40 Fruits and Gold

The show is about to begin… so find your seats, sit back and enjoy The Freak Show Revelation! B.T Parnum has gathered the freakiest freaks and created a program that is meant to shock the people! This is the second release from Sneaky Slots since the launch of Nip Tuck last month, with Gopnik and Gods Go Pew Pew up next!

Sneaky Slots reveals a bunch of freaks in its second release, Freak Show Revelation

Play’n GO pulls a signal from the void with Static Nightmare Abyssways™, a 6-reel video slot where the TV snow crackles, cables creep, and a quiet cul-de-sac hums with bad intent. ABYSSWAYS™ Free Spins and an expanding reel window bring a creeping sense of discovery to every moment.

Static Nightmare Abyssways™: Out Now!

Blueprint Gaming has unveiled its latest branded release, Yogi Bear™, marking another milestone in the studio’s proven track record of delivering high-performing IP-led content. Yogi Bear™ takes players on a light-hearted journey alongside Boo-Boo, Cindy Bear and Ranger Smith, with a focus on Money Collect and progressive rewards.

Blueprint Gaming launches Yogi Bear™ – a picnic-packed adventure smarter than the average slot

Playson, the accomplished digital entertainment supplier, welcomes players to join the party with Paddy Star: Smash and Win, where a charismatic leprechaun host and his Piggy Banks introduce the supplier’s innovative new mechanic. The brand-new Smash and Win feature activates when the leprechaun Wild symbol combines with any Bonus or Jackpot icon.

Paddy Star: Smash and Win

The post Week 44/2025 slot games releases appeared first on European Gaming Industry News.

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