Latest News
Codere Online Reports Financial Results for the Second Quarter 2023
- 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.
Dota 2 esports
Esports Nations Cup 2026 Announces $45 Million Prize Fund for Players, Clubs, and National Teams
The Esports World Cup Foundation (EWCF) has officially announced the inaugural Esports Nations Cup (ENC) 2026, bringing a new national team-focused layer to the global esports calendar.
Set to debut in Riyadh, Saudi Arabia from November 2–29, 2026, the ENC will feature elite competition across 16 esports titles, emphasizing national pride, iconic rivalries, and global fan engagement.
The ENC 2026 introduces a $45 million funding commitment to empower players, coaches, clubs, and national teams through a structured and sustainable prize model. This investment supports the growth of esports globally and ensures fair, performance-based rewards for all participants.
Three-Part Prize Model: Players, Clubs, and National Teams
The ENC 2026 prize framework is designed to promote equality, transparency, and long-term growth across the esports ecosystem:
- $20 million directly awarded to players and coaches across 16 esports titles
- $5 million in club incentives for teams releasing players to participate, tied to player performance
- $20 million via the ENC Development Fund to support national team operations, logistics, travel, marketing, and program development
“National teams add a compelling layer to esports, rooted in identity and pride,” said Ralf Reichert, CEO of EWCF. “Our prize model rewards performance, supports clubs, and strengthens the long-term pathways for players and national programs.”
Player-Centric and Transparent Prize Structure
ENC 2026 guarantees all qualified participants at least three matches, with equal placement earning equal pay across all titles. Coaches are rewarded alongside players for the same placement. Key prizes include:
- First place: $50,000 per player
- Second place: $30,000 per player
- Third place: $15,000 per player
For team titles, payouts scale with roster size, ensuring consistent and fair distribution.
Global Growth and Rotating Host Cities
The ENC will rotate to major international cities after the Riyadh debut, establishing a biennial esports tournament that provides reliable structure for long-term planning by players, partners, and national federations.
Confirmed titles for ENC 2026 include Mobile Legends: Bang Bang, Trackmania, and Dota 2, with additional games to be announced soon.
A New Era for National Esports
By combining national representation with global esports professionalism, the ENC offers players a chance to compete for national pride while connecting fans to elite-level esports. Clubs benefit from performance-linked incentives, and national teams receive long-term support to expand development pathways and enhance competitiveness.
For updates and further information on the Esports Nations Cup 2026, visit esportsnationscup.com and follow ENC on X, Facebook, Instagram, TikTok, and YouTube, and the Esports World Cup Foundation on LinkedIn.
The post Esports Nations Cup 2026 Announces $45 Million Prize Fund for Players, Clubs, and National Teams appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
casino operator growth
Groove Shines at ICE Barcelona 2026 as the Go-To Growth Partner for iGaming Operators
Groove, the award-winning iGaming platform and aggregator, has emerged from ICE Barcelona 2026 as the definitive growth partner for ambitious operators in 2026.
The event marked a milestone for the brand, generating high-value partnerships and demonstrating strong market demand for an integrated, scalable, and commercially strategic platform.
Over the three-day summit, Groove positioned itself at the heart of strategic conversations with operators and providers seeking solutions for sustainable growth, market diversification, and deeper player engagement. With an unprecedented volume of meetings, a clear trend emerged: operators are moving beyond basic content access, seeking a collaborative, technology-driven partner to navigate global expansion.
“The energy and focus at ICE 2026 validated our core why: aggregation has evolved into a strategic growth discipline,” said Yahale Meltzer, Co-Founder and COO of Groove.
“Operators aren’t coming to us just for games—they are looking for a roadmap. They want a partner who can provide content, technology frameworks, and commercial tools, like Instant Tournaments, as a seamless growth engine. In a fragmented market, Groove’s integrated approach is not just an advantage—it’s a necessity for serious operators in 2026.”
Groove’s Strategic Edge: Global Content and Localized Growth
Groove’s unique ability to act as a single conduit for global content and localized strategy was a central theme at ICE. The platform’s agility enables operators to thrive in established regulated markets while tapping into high-potential verticals such as Sweepstakes and Crypto gaming. This differentiation empowers operators to diversify portfolios, increase revenue, and streamline operational efficiency.
“We engaged with operators who have concrete 2026 plans, from new entries in Latin America to strategic European expansions,” explained Giusy Campo, Business Development Director at Groove.
“My role is to translate platform capabilities into commercial velocity. At ICE, we moved decisively from concept to pipeline execution. The market recognizes Groove as a partner that delivers with precision.”
Partnerships and Collaboration: Driving Innovation
Groove strengthened its global network by connecting with game studios and exploring exclusive content and technical collaborations designed to deliver innovative gaming experiences faster.
“ICE is ultimately about partnership in its truest sense,” said Rachel Tourgeman, Head of Partnerships at Groove.
“The quality of dialogue with existing and potential partners was exceptional, covering hyper-localized game curation, tournament tools, and strategies for player retention. Groove’s model of acting as an extension of our partners’ teams—providing tools and strategic insight—is exactly what the market needs now.”
Looking Ahead: Defining Growth for 2026
Groove exits ICE Barcelona 2026 not merely as a platform provider, but as the go-to growth partner for the iGaming industry. With a fortified pipeline, strategic market mandate, and a focus on turning aggregation into accelerated growth, Groove is set to define the iGaming landscape in 2026, helping operators expand globally and engage players meaningfully.
For more information, visit groovetech.com.
The post Groove Shines at ICE Barcelona 2026 as the Go-To Growth Partner for iGaming Operators appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
betting app engagement
Inside NFL Stadiums: How Fans Are Driving Record Sports Betting Engagement During Live Games
During the latest NFL season, one of the most valuable arenas for sports betting engagement wasn’t online or at home—it was inside the stadium itself. Using insights from GeoComply Edge
Stadium Data, analysts examined how fans interacted with betting apps while attending live NFL games, revealing a powerful convergence of fandom, technology, and real-time wagering.
From the season opener at Lincoln Financial Field in Philadelphia to the final Wildcard Weekend matchup at Acrisure Stadium in Pittsburgh on January 12, GeoComply analyzed in-stadium activity across every NFL venue located in US states with legal sports betting. The findings provide a clear, data-driven picture of how live attendance influences digital betting behavior.
The result is a uniquely detailed view into in-stadium engagement, customer acquisition, and long-term bettor value, offering operators critical insight into where and when fans are most likely to engage.
GeoComply Edge Stadium Data: Visibility Others Don’t Have
GeoComply Edge is purpose-built to measure fan acquisition and betting engagement within precise stadium-level geofences. This advanced location intelligence allows sportsbooks and operators to identify which teams, games, and venues generate the strongest engagement, turning live events into actionable growth opportunities.
Rather than tracking generic app usage, GeoComply Edge delivers insights into:
- Which NFL games drive the highest in-stadium betting activity
- How frequently fans check betting apps during live action
- Where new sportsbook accounts are created inside stadiums
- How engagement varies by venue, team performance, and market maturity
This season-long data view highlights how in-person fandom directly translates into digital wagering behavior, offering a deeper understanding of the customer journey.
Growth Leaders: Stadiums Where Betting Engagement Is Accelerating
Five NFL stadiums stood out for year-over-year growth in geolocation checks and active betting accounts—two strong indicators of in-stadium betting engagement.
In many cases, increased engagement closely followed on-field success. Teams such as the Denver Broncos, Pittsburgh Steelers, New England Patriots, and Carolina Panthers returned to playoff contention after turnaround seasons, reigniting fan excitement and digital interaction.
The Las Vegas Raiders emerged as a notable outlier. Allegiant Stadium continues to function as a destination venue, attracting traveling fans from across the country and creating a uniquely strong in-stadium betting environment, independent of team performance.
Engagement Rate Leaders: Quality Over Volume
While total geolocation volume remains important, the most telling metric this season was engagement rate—the percentage of fans inside the stadium actively using betting apps during games.
Top-performing venues recorded 10% to 13% engagement, meaning nearly one in every eight fans accessed a sports betting app at least once while attending a live NFL game. This highlights the growing normalization of in-game wagering as part of the live sports experience.
New User Acquisition: Stadiums as Sportsbook Growth Engines
One of the most compelling insights from GeoComply Edge data is the consistent creation of brand-new betting customers inside NFL stadiums.
Leading venues generated new sportsbook sign-ups at rates between 0.2% and 0.7% of total attendance per game. For a typical 65,000-seat stadium, that translates to 130 to 450 new accounts per game.
GEHA Field, home of the Kansas City Chiefs, led all venues in new customer creation, benefiting from Missouri’s launch of mobile sports betting on December 1, 2025, during the Chiefs’ final three home games.
Reducing Friction with Compliant Onboarding
GeoComply supports operators at every stage of the customer journey. Through IDComply®, the company enables a fully compliant KYC process that delivers 95%+ onboarding success rates, while GeoComply Edge pinpoints where and when these high-value acquisition moments occur.
This dual approach allows sportsbooks to engage fans in a way that is timely, targeted, and non-intrusive, enhancing both compliance and customer experience.
Doing More With “Where” at Live Sporting Events
NFL stadiums have evolved into digital engagement hubs, where live entertainment, mobile technology, and sports betting intersect in real time.
GeoComply Edge Stadium Data brings clarity to this intersection by providing:
- Actionable insights into in-stadium betting behavior
- Clear visibility into acquisition and engagement trends
- A season-long perspective beyond single-game analysis
As the NFL continues to grow and fan experiences become increasingly digital, one conclusion is unmistakable: the future of sports betting is already unfolding inside the stadium.
The post Inside NFL Stadiums: How Fans Are Driving Record Sports Betting Engagement During Live Games appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
-
Latest News7 days ago
N1 Partners Hosts the N1 Puzzle Promo Grand Final and Reveals the Helicopter Winner at iGB Affiliate 2026 in Barcelona
-
Games Global7 days agoGames Global and Stormcraft Studios extend the supernatural franchise with Immortal Romance: Sarah’s Secret Power Combo
-
Amusnet7 days agoWeek 4/2026 slot games releases
-
affiliate marketing7 days agoN1 Partners Hosts the N1 Puzzle Promo Grand Final and Reveals the Helicopter Winner at iGB Affiliate 2026 in Barcelona
-
Compliance Updates7 days agoDutch Regulator Outlines 5 Key Supervisory Priorities for 2026 Agenda
-
BetPlay4 days agoBlask Awards 2025: Betano, Caliente, BetPlay, Betsson and others define Latin America’s iGaming landscape
-
AI gaming platforms6 days agoBetConstruct AI Sets the Tone for 2026 iGaming with Harmony Choice Event in Barcelona
-
Latest News7 days agoALL THE ACTION, ALL THE DATES, POKERSTARS OPEN PHILADELPHIA SCHEDULE RELEASED



